Araratbank development program signed

PanARMENIAN.Net - Ashot Osipyan, executive director of Araratbank and Paul Doucet, Senior Director - Financial Institutions, CRC SOGEMA, signed a development program, the bank's press office said.



CRC SOGEMA is a Canadian management consulting firm which has been predominately involved with management of development projects as well as training and systemization in developing countries. CRC SOGEMA has carried out over 150 projects in Africa, the Middle East, the Caribbean, Latin America and Eastern Europe. Many of these projects were funded by various donor agencies such as the World Bank, Inter-American Development Bank, Canadian International Development Agency (CIDA) and the African Development Bank.



The company won the international tender under the agreement signed by Ararat Bank and European Bank for Reconstruction and Development (EBRD) in 2008.



A group of experts from CRC SOGEMA will take part in implementation of the program. Besides, Araratbank employees will be trained in the National Bank of Canada.