YEREVAN, April 3. /ARKA/. Kamurj universal credit organization said today it has signed a loan agreement with the Asian Development Bank worth about one billion drams, repayable in 5 years.
The credit organization said it will use the resources to provide available loans to individuals who are engaged in entrepreneurial activity, firstly to women to stimulate women entrepreneurship in Armenia and the engagement of women in micro, small and medium enterprise development.
“With the financing of Asian Development Bank the provided loans will get a positive response among our customers, as they are in AMD, have low rates, are as well aimed to solution of social problems and to the environmental protection. Half of our customers are women, who trust Kamurj, we have woman entrepreneurs, who more than 30 times have used the loans provided by Kamurj for the purpose of expanding and developing their activity,’ it said in a press release.
;This program implemented in partnership with the Asian Development Bank will give us new opportunity to provide more available loans to our businessmen, especially to women, to promote the expansion of the entrepreneurship in Armenian rural and urban areas. As a socially responsible organization, we give much importance to signing such contracts, which give the opportunity to provide available AMD loans to our population at the same time contributing to the growth of Armenian economy and Small and Medium entrepreneurship,” Kamurg board chairman Ara Aghayan is quoted as saying.
Kamurj is one of the biggest credit organizations operating in Armenia. It was founded in February 2012 as a result of re-organization Kamurj cjsc was established as non-profit organization by a benevolent organization supporting microbusiness in 2010.
Assets of Kamurj universal credit organization rose by 47.9% during 2014 to 15.7 billion drams, liabilities were about 10 billion drams (almost double from the beginning of the year), capital amounted to 5.7 billion drams (5% growth) and loan investments were 13.5 billion drams (31.6% increase). The profit of the organization was 425.2 million drams in 2014.-0-
