Marine Ghazaryan lives in the Shirak region of Armenia in the village of Gharibjanyan. She has a high school education and dreams of her three children attending university. Her two daughters are eleven and thirteen years old and her son is four years old. Together with her husband she has been working on the family farm for the past twenty two years.
Microfinance loans have enabled her to grow the business. She would like a loan to purchase wheat and potato seeds and calves. According to Marine’s business plan, the investment will increase her income by twenty percent. She was born in the village of Voskehask and after her marriage moved to Gharibjanyan. She enjoys village life. Mariam also helps nearby relatives with produce grown on the family farm.
About AREGAK Universal Credit Organization
In 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program with the aim of creating economic opportunities for low-income people who lack or have limited access to formal financial services, especially in remote rural areas. The microfinance program rapidly became one of the largest microfinance institutions in Armenia in terms of the number of active clients and portfolio size.
In 2006, AREGAK UCO was registered as a universal credit organization structured as a closed joint stock company with UMCOR as the sole shareholder.
Today, AREGAK UCO provides a broad range of financial services to the population without compromising the social aspects of its mission. It continues pursuing initiatives geared toward the fulfillment of its ethical principles. To learn more about AREGAK UCO, visit its Kiva Field Partner page.