Private mutual rural cooperative association (PMRCA) Aetos is established under the Cooperative Act, according to the Memorandum of Understanding between the Government of the Republic of Bulgaria and the Delegation of EU Commission to Bulgaria in 1996 by 111 members with 621, 20 leva share ... Read more
Private mutual rural cooperative association (PMRCA) Aetos is established under the Cooperative Act, according to the Memorandum of Understanding between the Government of the Republic of Bulgaria and the Delegation of EU Commission to Bulgaria in 1996 by 111 members with 621, 20 leva share capital. The mission of Aetos is to disburse loans to members and to provide assistance to members and protects their interests. The minimum loan balance is 100 euro, the maximum – 20 000 euro. Since its establishment the cooperative has disbursed 1,780 loans. Hide
Background and Main Challenges:
The lack of legal framework regulating the cooperative in regards to deposit taking activities.