TASKS AND ACTIVITIES

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