Armenia Microlending Programme—Microlending Consulting for Converse Bank

BFC’s main achievements in this project included:

  • minimization of fraud through the elimination of core fraud factors
  • implementation of preventive measures
  • reduction of overdue loans (PAR)
  • introduction of a credit committee for MSE lending 
  • implementation of systematic staff recruitment and training program 
  • design of new profitable MSE products and lending procedures
  • initiation of new financial analysis system 
  • development of a reporting and control system
  • elaboration and implementation of a new MSE lending division
  • introduction of new applications for agricultural loans and process charts