ECLOF Armenia active through partnerships
In its mission of eradicating poverty, ECLOF Armenia has reinforced its capacity to reach as many people as possible through the establishment of several partnerships which will allow it increase its effectiveness in benefiting from other organisations’ expertise and support.
A good example of this approach is the recent partnership it has established with Habitat for Humanity Armenia. This internationally known organization is committed to provide housing solutions for families in need of a simple decent place to live and thrive, and works with low-income families to build or renovate homes that are paid for over time by affordable, non-profit mortgages or home-improvement loans.
Habitat for Humanity and ECLOF Armenia started their collaboration through the organization of training for ECLOF’s credit staff in August 2012. This training provided the ECLOF Armenia staff with knowledge about the handling of the financial and technical aspects around housing construction. Habitat for Humanity also supported ECLOF Armenia in the preparation of seminars addressed to clients on the same subjects. Another important part of the collaboration consisted of joint work on the development of new housing products and the related procedures. This rich relation is a good example of two organizations sharing areas of expertise.
ECLOF Armenia has also been successful in receiving support for its agricultural work from other internationally recognized organizations. It has accessed funding to finance agricultural credit projects from the Foundation of Agricultural Development (IFAD) and the World Bank (WB) - through its Rural Areas Economic Development and Rural Finance Facility Project Implementation Unit of the Republic of Armenia. Due to strong performance, ECLOF Armenia has also managed to be part of the Armenian Government’s Agricultural Loan Subsidization Programme through which the Government subsidizes rural loans of 4% each that benefit directly the clients.
ECLOF Armenia is grateful for the confidence shown by its partners, which have provided new opportunities to support different type of projects, from low income families needing a roof to agricultural development through rural micro financing.