Hovhannes G. is from the village of Akhouryan in the Shirak region of Armenia. He is happily married and, together with his wife, has been working on the family farm for the past ten years. He hopes to save enough money someday to renovate the family home. In addition to providing for his family, Hovhannes also helps his brother’s family with produce grown on the family farm.
Hovhannes would like a loan to purchase animal feed. He expects the family income to increase by twenty five percent with this investment. He enjoys living in Akhuryan and is surrounded by his relatives and good friends.
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.