This year, FINCA is celebrating its 25th anniversary in Armenia. To mark the occasion, the organization held a special closed event on July 9 at the National Gallery of Armenia, summarizing its achievements over the past 25 years and outlining future goals.

Among the event's attendees were notable figures such as Andrée Simon, President and CEO of FINCA International; Jeff Flowers, Chief Executive Officer of the FINCA Impact Finance Network; Zar Vardak, Vice President of Business Development and Customer Service Strategy at the FINCA Impact Finance Network; as well as representatives from the Central Bank of Armenia, the U.S. Embassy in Armenia, partner organizations, and FINCA clients.

"Over these years, FINCA Armenia's biggest contribution has probably been the cultural change, and the biggest achievement is the client base and the dedicated team we have today," said Vardan Haroyan, Chief Commercial Officer of Armenia, in an interview with Banks.am. He reflected on FINCA's 25-year journey, emphasizing how the organization supported clients overlooked by banks in the late 1990s and 2000s. By providing small loans to micro-entrepreneurs, FINCA helped many achieve their goals, marking a significant cultural shift in Armenia's financial landscape.

Haroyan also announced that FINCA Armenia would soon launch a digital platform enabling complete remote service through a mobile application. "Our digital platform will allow for remote granting and repayment of loans. Soon, we will also introduce an automated scoring system," he added.

Irena Balayan, head of FINCA Armenia's marketing department, highlighted that although FINCA is a credit organization without bank status, it competes with banks by offering comparable services. Since its inception in 1999, FINCA has significantly impacted Armenia's financial sector, pioneering social projects aimed at community development and women's empowerment.

Balayan noted that FINCA's social programs extend beyond its clients, targeting regions and communities to produce tangible results. She cited the "Women in Agriculture" program, which involved 25 women, only a few of whom were FINCA clients.

Despite a competitive environment, FINCA strives to offer affordable and accessible services in both the credit sector and foreign currency exchange. Davit Nahapetyan, a member of the Board of the Central Bank of Armenia, praised FINCA's role in developing the credit market, stating, "FINCA's presence in Armenia, as a well-functioning financial structure, has played a significant role in the overall development of the credit market and introduced a new culture to credit organizations."

The event featured speeches from various guests and showcased videos highlighting FINCA's Armenian team and women entrepreneurs, celebrating the organization's impactful 25-year journey.