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EFSE Annual Meeting: industry developments & SME financing

EFSE Annual Meeting: industry developments & SME financing

June 18, 2014 - 11:51 AMT  07:51 GMT
The EFSE – one of the largest microfinance funds in the world – is taking advantage of the occasion to present its results for 2013.
EFSE success stories. Karen Grigoryan: we improve conditions for getting better crops

EFSE success stories. Karen Grigoryan: we improve conditions for getting better crops

June 16, 2014 - 11:43 AMT  07:43 GMT
Bardzrashen was named for its location: the village in the Ararat province of Armenia is situated high on a hill, with a long curving road leading to it. Like many other villagers, Karen Grigoryan is a farmer - he has greenhouses to grow vegetables and flowers. To improve the quality of the crop and reduce the weather risk, he recently built a new heating system in his glassed greenhouse where he usually grows pinks.
EFSE success stories. Samvel Melkonyan: as you grow older, you want more stability in life

EFSE success stories. Samvel Melkonyan: as you grow older, you want more stability in life

June 13, 2014 - 08:21 AMT  04:21 GMT
Samvel Melkonyan, the head of S Kahuyq LLC has been engaged in furniture business since the Soviet times. Currently, he runs his own furniture shop in Yerevan, the capital of Armenia.
EFSE success stories. Alla Davtyan and Mikael Hovhannisyan: a small family with big achievements

EFSE success stories. Alla Davtyan and Mikael Hovhannisyan: a small family with big achievements

June 11, 2014 - 11:11 AMT  07:11 GMT
Alla Davtyan, her husband Mikael Hovhannisyan and their little daughter moved to Masis village located near the town of Artashat in Ararat province of Armenia several years ago. They settled in a small construction next to an abandoned farm, the owner of which let them live and work there, and purchased a cow, marking the beginning of a new life.
EFSE success stories. Karen Asoyan: a reliable bank is like an old friend

EFSE success stories. Karen Asoyan: a reliable bank is like an old friend

June 6, 2014 - 16:35 AMT  12:35 GMT
Edgar & Karen LLC, which was registered back in 2007, now operates Planet of Clothes chain of shops selling affordable clothing in Yerevan, the capital of Armenia, and in the nearby town of Abovyan. The head of the firm, Karen Asoyan, personally runs the business, importing goods from China, Turkey and Dubai.
EFSE success stories. Hamlet Shmavonyan: problems are solvable, if people do their job

EFSE success stories. Hamlet Shmavonyan: problems are solvable, if people do their job

May 30, 2014 - 18:16 AMT  14:16 GMT
Hamlet Shmavonyan, a resident of Aratavan village in Ararat province of Armenia, believes that all problems are solvable, once people do their job. With the latest $2500 loan from ACBA-Credit Agricole Bank, he bought a land adjacent to his house, where he already built a pigsty, as well as two greenhouses to grow pinks, tulips and chrysanthemums. He also purchased fuelwood he uses to heat the greenhouses in winter.
EFSE success stories. Rafik Vardanyan: doors of my restaurant are always open

EFSE success stories. Rafik Vardanyan: doors of my restaurant are always open

May 28, 2014 - 16:52 AMT  12:52 GMT
Erzrum restaurant complex has been functioning for over 7 years in Jrvezh district on the outskirts of Armenia’s capital Yerevan. It’s a two-storey construction, with an adjacent green territory used as an open air café.
EFSE success stories. Sargis Manukyan: a farmer shouldn’t put all eggs in one basket

EFSE success stories. Sargis Manukyan: a farmer shouldn’t put all eggs in one basket

May 22, 2014 - 16:40 AMT  12:40 GMT
The resident of Lenughi village of Armenia’s Armavir province, Sargis Manukyan, believes that a farmer shouldn’t put all eggs in one basket. However, he knows that diversification can be risky too. A little more than ten years ago, Manukyan’s small farm enabled him to make a modest living. At the same time, he knew that limiting his business to livestock was equal to reducing his chances for a better life.
EFSE success stories. Khachatryan family: never give people the food you wouldn’t eat yourself

EFSE success stories. Khachatryan family: never give people the food you wouldn’t eat yourself

May 14, 2014 - 15:04 AMT  11:04 GMT
Laura Khachatryan follows the business rules once set by her husband, Patvakan Khachatryan, who started the Vahan Khachatryan and Friends bakery back in 2000 with three old electric ovens, which were quite inefficient and costly to operate.
EFSE success stories. Yeghishe Gevorgyan: as a farmer, you are dependent on Mother Nature

EFSE success stories. Yeghishe Gevorgyan: as a farmer, you are dependent on Mother Nature

May 7, 2014 - 16:46 AMT  12:46 GMT
Yeghishe Gevorgyan lives on the outskirts of Aragatsavan, a small village in Aragatsotn province of Armenia, just a few miles from the Turkish border. About a decade ago, he made a decision that changed his life. “At one point, I said to myself: ‘Yeghishe, if you don’t do something with this land, someone else will’,” Gevorgyan recollects.
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