Tasks and activities of the Institution include but are not limited to

  • Carrying out tenders among Armenian commercial banks and credit organizations, appraisal of applicants and selection of winning institutions to be involved in the implementation of loan programs

  • Preparation of loan agreements with partner financial institutions within the framework of the Programs

  • Disbursing loans to the partner financial institutions within the framework of the Programs

  • Implementing supervision at partner financial institutions, for object of their compliance to the lending technologies established by the Programs

  • Monitoring the progress of the Programs through collecting monthly activity reports from the partner financial institutions

  • Monthly reporting to the key stakeholders

  • Conducting trainings, seminars and workshops for financial institutions

  • Organizing semiannual Supervisory Council meetings

All the activities of the Institution are subject to both internal and external control:

  • Audit inspection over activities of the Institution should be carried out on annual basis by a well-recognized and trustworthy independent audit company in compliance with International Financial Reporting Standards (IFRS)

  • Internal audit department of the CBA executes annual control over activities of the Institution according to the terms established by the Central Bank

  • Supervisory missions of donor organizations (KfW, World Bank and RA Government) implement control over GAF activities on random basis