ACBA-CREDIT AGRICOLE BANK starts free "certification of organic agricultural products" program

YEREVAN, May 22. / ARKA /. ACBA-CREDIT AGRICOLE BANK in cooperation with the German Union for Nature Conservation (NABU) has started a free "Certification of Organic Agricultural Products" program. 

The program was launched on May 22 during a conference, attended by representatives of companies engaged in production of organic agricultural products and other interested persons, the bank said in a news release.

The program embraces about 150 business entities from all the regions of Armenia, dealing with production of organic agricultural products. Most of them are clients of ACBA-CREDIT AGRICOLE BANK.

The program, aimed at analyzing the current situation in the market of organic agricultural products is designed for companies and individuals that are interested in obtaining organic certifications.

The event is also informative. German experts as well as representatives of NABU invited to take part in the conference read their papers on this subject sharing their international experience in this field and presenting also European market standards and the opportunities which are available for certified companies engaged in the production of organic food.

The Chief Executive Officer of ACBA-CREDIT AGRICOLE BANK Hakob Andreasyan also read his paper underscoring the fact that from the first day of its foundation, the Bank has always stood by Armenian farmers.

"Throughout our activity our mission has been to promote Armenian economic entities engaged in agriculture,'  he said.

Speaking on the goals of the program, Andreasyan said that providing advice and financing to agriculture, which is the backbone of Armenia’s economy has been the main objective of the Bank since its inception.

"For nearly 20 years, first as Agricultural Cooperative Bank of Armenia (ACBA) and since 2006 as ACBA-CREDIT AGRICOLE BANK, we have always promoted and assisted farmers as a trusted partner and a true friend,'  he added.

Andreasyan appreciated highly chances for fulfilment of the program. "Today's event will give a new impetus and quality to this relationship. Together with our partner, we have decided to facilitate the entry of producers of organic and environmentally friendly products to the European market. I can assure that due to its climatic conditions and characteristics Armenia's agriculture is able to produce high quality organic products. The question is how. That is why we have initiated these seminars and consultations," he said.

The program, however, does not end with this. The conference is to be followed by a series of trainings and seminars. The completion of the informative part of the program will be followed by a peer review and a competition among the participants for the purpose of certification.

The organizations whose  organic products meet international standards and which will the competition, will have free certification with the financing of ACBA CREDIT AGRICOLE BANK and NABU.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. 

The Bank’s assets in 2014 stood at 286.4 billion drams; its liabilities – at 237 billion drams and its capital -at 49.37 billion drams. -0-