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Microfinance in Armenia: Country Profile

Loans: 696.5 million (USD, 2011)

Active borrowers: 300,186 (2011)

Deposits
Total value of all deposit accounts
Deposits: 264.4 million (USD, 2011)

Depositors: 239,014 (2011)

Cross Market Analysis
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MFIs (15)

Name	Date	Diamonds	Gross Loan Portfolio Gross Loan Portfolio Gross Loan Portfolio	Number of active borrowers Number of active borrowers Number of borrowers with loans outstanding
ACBA	2011	4	362,336,306	120,596
ANIV	2005	1	1,193,151	213
AREGAK UCO	2011	4	25,133,135	26,660
CARD AgroCredit	2008	1	975,821	88
ECLOF - ARM	2012-03-31	5	3,148,247	2,000
Farm Credit Armenia	2012	4	9,387,978	1,952
FINCA - ARM	2012-03-31	4	38,291,748	47,695
GFC	2011	—	1,901,066	1,075
Global Credit	2012-03-31	4	8,640,774	800
Good Credit	2012	3	1,758,187	509
INECO	2012	4	194,954,542	—
KAMURJ	2012	4	17,703,734	14,269
Nor Horizon	2012	4	5,610,437	3,323
ProCredit Bank - ARM	2011	4	62,393,744	—
SEF-ARM	2012-03-31	4	11,741,069	13,066

Funders

Funders (12)

Name	Website	# of Related MFIs	Related MFIs
Dignity Fund, L.P.	www.dignityfund.com	1	KAMURJ
Incofin - Rural Impulse Fund	www.incofin.be/...	1	KAMURJ
Incofin - VDK MFI Loan Portfolio		2	ACBA INECO
Incofin Fund		2	FINCA - ARM SEF-ARM
MicroCredit Enterprises	www.MCEnterprises.org	1	KAMURJ
Oikocredit	www.oikocredit.org	4	AREGAK UCO FINCA - ARM Nor Horizon SEF-ARM
Oxfam Novib Fund	www.triplejump.eu	2	AREGAK UCO Nor Horizon
responsAbility Global Microfinance Fund	www.responsAbility.com	1	AREGAK UCO
responsAbility Microfinance Leaders Fund	www.responsAbility.com	1	ACBA
ShoreCap Intl.	www.shorecap.net	1	INECO
Triodos-Doen Foundation	www.triodos.com/...	1	FINCA - ARM
Vision Fund	www.visionfundinternational.org	1	SEF-ARM

Networks

Networks (9)

Name	Website	Headquarter Country	# of Related MFIs	Related MFIs
CRS	www.catholicrelief.org	United States	1	KAMURJ
ECLOF	www.eclof.org	Switzerland	1	ECLOF - ARM
FINCA International	www.FINCA.org	United States	1	FINCA - ARM
MFC	www.mfc.org.pl	Poland	3	FINCA - ARM INECO KAMURJ
MFN	www.mfnetwork.org	United States	1	KAMURJ
Save the Children	www.savethechildren.org	United States	1	KAMURJ
UCORA	www.armcredit.com	Armenia	1	GFC
Vision Fund	www.visionfundinternational.org	United States	1	SEF-ARM
World Vision	www.worldvision.org	United States	1	SEF-ARM

Service Providers

Service Providers (4)

Name	Website	Institution Type	# of Related MFIs	Related MFIs
CRS	www.catholicrelief.org	NGO	1	KAMURJ
Kiva	www.kiva.org	Peer-to-peer Lender	3	AREGAK UCO Nor Horizon SEF-ARM
Planet Rating	www.planetrating.com	Rater	1	KAMURJ
PlaNIS	www.planis.org	Fund Manager	1	ACBA

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Legal Information

Regulator:

Central Bank of Armenia

Laws & Regulations for Microfinance:

Boston University Center for Finance, Law & Policy

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