Gagik B. is from the village of Hacik in the Shirak region of Armenia. He is the proud father of four children – three daughters (24, 28 and 29 years old) and a 16-year-old son. Gagik and his wife have been working on the family farm for over 20 years. He is content with his work and has gained the respect of his fellow villagers. Two of his daughters are married and Gagik helps them with produce grown on the family farm.
He would like a loan to purchase animal feed. According to Gagik’s plan this investment will increase the family income by 10 percent. As his daughters have completed their education, Gagik also wishes for his son to attend college.
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.