30.08.2000, MEDIAMAX, YEREVAN. With a wish for work and an ability to act properly, good economic results can be achieved in Armenia, declared today Armenian Premier Andranik Margarian at the meeting with the delegation of French Credit Agricole Bank, was reported to MEDIAMAX in the press service of the government of Armenia. The delegation is headed by the director of the bank, the head of the International confederation of agricultural banks, Eve Barsalou.
"Credit Agricole" has been working in Armenia for 8 years already, cooperating with the Farmer Mutual Aid Bank of Armenia, which realizes the crediting of agricultural programs.
Highly assessing the joint activity of "Credit Agricole" and Farmer Mutual Aid Bank, Premier Margarian noted that this cooperation indicates that there is favorable legal field for investments in Armenia. Adopting the model of "Credit Agricole", Farmer Mutual Aid Bank has formed a clear working system and expert staff. The Prime Minister assured that the government of Armenia is ready for further cooperation with "Credit Agricole".
Eve Barsalou also highly appraised investment conditions, created in Armenia. He also expressed readiness to organize training of the personnel of Armenia's bank system in the training center of "Credit Agricole".
On August 29 Farmer Mutual Aid Bank and the French "Credit Agricole Bank" signed a credit agreement for 1 million dollars. According to Stepan Gishian, the executive director of Farmer Mutual Aid Bank, this is the first time a foreign bank gives a credit to an Armenian bank without governmental guarantee. -0-