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Armenia Microlending Programme—Microlending Consulting for Converse Bank
Implementation period: January 2009—March 2010
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
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