On November 17, the presentation of Social Performance Country Report developed by Union of Credit Organizations of Armenia (UCORA) and implemented by member credit organizations took place at Imperium Plaza business center.

Besides the member credit organizations of UCORA, representatives from non-member credit organizations, Central Bank and other partner organizations were among the invitees.

Board Chair Louiza Igraryan attached importance in her speech to such type of analyses, as the mission statements of many UCORA member credit organizations include clearly formulated social goals, the results of which are often not visible.

Union’s Executive Director Narine Terzyan and Project Coordinator Lena Mamikonyan presented the results of the research. Narine Terzyan mentioned that the report allows evaluating the importance of social goals for Credit organizations and how well internal policies, regulations and operational practices support the implementation of those goals.

She also informed that this project aims at becoming continuous by enlarging both the scope of participating organizations and the frame of presented indicators.

This project is initiated by Microfinance Center in order to support the implementation of Universal Standards for Social Performance Management by financial institutions. It has been implemented within the scopes of Social Performance Fund, which was established in 2011 by the support of Ford Foundation.

The full report can be downloaded from the webpage of UCORA.