Farm Credit Armenia (FCA) signed a partnership agreement with National Federation of French Savings Banks on June 14, Paris. The agreement is based on FNCE’s volunteering cooperation program.

According to FCA, this agreement aims to contribute to holding of trainings and capacity building programs for Farm Credit Armenia’s employees, which will allow FNCE to discover the Armenian banking sector.

A number of important guests attended the ceremony: Ambassador of Armenia to France Vigen Tchitechian and his advisor Levon Amirjanyan, Advisor to the Chairman of the Management Board in charge of Public Affairs of BPCE Nicolas Duhamel, Head of Communication and Institutional Affairs of BPCE International François-Noël Robinet, Director of Finances&Pédagogie and CEO of FNCE Florence Raineix and President of FNCE Mr. Jean Arondel.

The two organizations decided to sign this partnership after several meetings within the frames of International Congress of CIBP and several more at FNCE’s headquarters in Paris.

“This partnership lays the foundation for our successful collaboration,” Chairman of FNCE Jean Arondel said.

President and CEO of Farm Credit Armenia Armen Gabrielyan reaffirmed that view: “The cooperation with FNCE will allow us to apply the best practices of French cooperatives in our arsenal”.

Farm Credit Armenia has 6 500 cooperative shareholders. The company’s assets make EUR 17,5 million, while equities – EUR 2,1 million, which allowed providing 130 units of agriculture machinery in leasing (equal to EUR 1,2 million), as well as 12 512 loans (equal to EUR 51 million).

National Federation of French Savings Banks represents 16 regional savings banks, their leaders, 5 million cooperative shareholders and 3 292 board members of the local savings societies (LSS). The National Federation was created in 1999, when savings banks were granted the status of cooperative banks. Having become their full representative, National Federation of French Savings Banks promotes the identity and uniqueness of saving bank model in the economic and social environments of France, Europe and throughout the world.