Categories: Finance

Converse bank: A success story – Smart barn

A few years ago, a smart barn was established in Ararat region with the support of Converse Bank. As the owners were not thoroughly familiar with this method of cattle breeding, they decided to start with a small barn.

Today, Gevorg Ananyan, the owner, recalls those uncertainties with a smile.

“High ceilings, ventilation, cleanliness and maintenance of sanitary rules – these are the main characteristics differentiating a smart barn,” he says.

Today, the purchased milk is sold to processors. The owners plan to increase the number of cattle and set up a milk processing plant.

“Currently we are building a new cattle barn for our pedigree calves, and this time with Converse Bank. We intend to proceed with further development and establish a new production together with the Bank. It is convenient to cooperate with a financial institution which is more than a provider of funds, as it also provides guidance, and supports you throughout all your way”, Gevorg Ananyan concludes.

The project financing is carried out by Converse Bank within the framework of cooperation with the German-Armenian Fund.

Oversight of the Bank is exercised by the Central Bank of Armenia.