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EFSE success stories. Hamlet Shmavonyan: problems are solvable, if
people do their job
"All you see around is the result of our family efforts. We work hard
day and night and the outcome is pleasing," Shmavonyan says.
Hamlet Shmavonyan, a resident of Aratavan village in Ararat province
of Armenia, believes that all problems are solvable, once people do
their job. With the latest $2500 loan from ACBA-Credit Agricole Bank,
he bought a land adjacent to his house, where he already built a
pigsty, as well as two greenhouses to grow pinks, tulips and
chrysanthemums. He also purchased fuelwood he uses to heat the
greenhouses in winter.
May 30, 2014
PanARMENIAN.Net - "All you see around is the result of our family
efforts. We work hard day and night and the outcome is pleasing,"
Shmavonyan says.
Although the weather is not always gratifying, with frequent rains,
cold nights and even hail, farmers do not lose heart.
"In this greenhouse we had tulips for the New Year and March 8 sale,
which helped us pay off a part of the loan. There are also garden
radishes to be sold soon," he says, leading to a pigsty which is now
home to several sows and a dozen of newborns.
"14 piglets were born several days ago but only seven survived.
Anyway, we are now waiting for more to be born," Shmavonyan says
hopefully.
"I am very thankful to ACBA for cooperation. We have been partners for
a long time and I never experienced problems with registering a new
loan when I needed more money for my household," he says.
The European Fund for Southeast Europe (EFSE) successfully launched
cooperation with ACBA Leasing Credit Organization in Armenia, by
providing a senior loan facility dedicated to MSE financing in the
Equivalent of EUR 2.5 million. The loan facility was aimed at
supporting ACBA Leasing's strategy to facilitate access to credit for
MSEs, including agricultural producers and individual farmers,
especially in the country's rural areas.
EFSE operates through financial intermediaries in the region of
Southeast Europe, including the European Eastern Neighborhood Region.
These include commercial banks, microfinance banks, microcredit
organisations and non-bank financial institutions such as leasing
companies. They on-lend funds received from EFSE to the Fund's
ultimate target group: micro and small enterprises and low-income
private households. All of EFSE's partner lending institutions are
carefully selected: In addition to being financially stable, the
institutions must treat their clients fairly and in a transparent
manner.
The project is sponsored by the European Fund for Southeast Europe
Lusine Mkrtumova / PanARMENIAN.Net
From: Baghdasarian
people do their job
"All you see around is the result of our family efforts. We work hard
day and night and the outcome is pleasing," Shmavonyan says.
Hamlet Shmavonyan, a resident of Aratavan village in Ararat province
of Armenia, believes that all problems are solvable, once people do
their job. With the latest $2500 loan from ACBA-Credit Agricole Bank,
he bought a land adjacent to his house, where he already built a
pigsty, as well as two greenhouses to grow pinks, tulips and
chrysanthemums. He also purchased fuelwood he uses to heat the
greenhouses in winter.
May 30, 2014
PanARMENIAN.Net - "All you see around is the result of our family
efforts. We work hard day and night and the outcome is pleasing,"
Shmavonyan says.
Although the weather is not always gratifying, with frequent rains,
cold nights and even hail, farmers do not lose heart.
"In this greenhouse we had tulips for the New Year and March 8 sale,
which helped us pay off a part of the loan. There are also garden
radishes to be sold soon," he says, leading to a pigsty which is now
home to several sows and a dozen of newborns.
"14 piglets were born several days ago but only seven survived.
Anyway, we are now waiting for more to be born," Shmavonyan says
hopefully.
"I am very thankful to ACBA for cooperation. We have been partners for
a long time and I never experienced problems with registering a new
loan when I needed more money for my household," he says.
The European Fund for Southeast Europe (EFSE) successfully launched
cooperation with ACBA Leasing Credit Organization in Armenia, by
providing a senior loan facility dedicated to MSE financing in the
Equivalent of EUR 2.5 million. The loan facility was aimed at
supporting ACBA Leasing's strategy to facilitate access to credit for
MSEs, including agricultural producers and individual farmers,
especially in the country's rural areas.
EFSE operates through financial intermediaries in the region of
Southeast Europe, including the European Eastern Neighborhood Region.
These include commercial banks, microfinance banks, microcredit
organisations and non-bank financial institutions such as leasing
companies. They on-lend funds received from EFSE to the Fund's
ultimate target group: micro and small enterprises and low-income
private households. All of EFSE's partner lending institutions are
carefully selected: In addition to being financially stable, the
institutions must treat their clients fairly and in a transparent
manner.
The project is sponsored by the European Fund for Southeast Europe
Lusine Mkrtumova / PanARMENIAN.Net
From: Baghdasarian