Yerevan, June 1 /Mediamax/. By the end of 2011, the “Finca” Universal Credit Organization plans to make the number of its customers reach the point of 50 thousand, providing during the given period of time 200 thousand credits at the total sum, equivalent to $280mln.

Mediamax reports that the General Director of “Finca” UCO Yervand Barseghian said this in Yerevan today, presenting the 5-year strategic development program of the organization.

According to Barseghian, by the end of 2011, the credit portfolio of the organization will make about 18bln drams, which will allow financing of about 20% of the neediest layers of the population of Armenia.

The total credit portfolio of the organization is equivalent to $8,5mln. “Finca” has 4 branches - one in Yerevan and three others in Gyumri, Vanadzor and Ijevan.

“We believe that “Finca” on the whole fulfilled its mission in the capital, we have more work to do in the rural areas, where the majority of the population is on the verge of poverty”, Barseghian stressed.

By the end of this year, the total number of branches and points of sale of “Finca” is planned to reach 17, and by the end of 2008, their number will make 25, covering all the regions of the country.

In the course of this year, “Finca” plans to provide 28 thousand credits at the total cum of about 10bln drams.

According to the assessment of the Chairman of the Central Bank of Armenia Tigran Sarkisian, “the prior task” for universal credit organizations, and “Finca” in particular, which works in the sphere of micro-crediting, is the realization of programs for overcoming poverty.