Cascade Credit
Cascade-Credit is Stimulating Rural Economic Livelihoods with Loans that Make a Difference by Forging Strategic Partnerships
Cascade-Credit UCO CJSC is the leader in the renewable energy sector development in Armenia. From the very day of its inception in 2004 by Cascade Capital Holdings and Cafesjian Family Foundation, the main goal of the company has been to encourage and facilitate investments in Armenia's economy through innovative lending programs operating to western standards of trust, work ethics, transparency, corporate governance and excellent customer service.
By partnering with the World Bank and the European Bank for Reconstruction and Development, Cascade-Credit introduced and successfully implemented a wide range of renewable energy projects across the country. To date, 22 privately owned small hydro power plants are being built or renovated throughout Armenia as a means to promote clean renewable energy. Energy independence is one of the pillars of Armenia’s sustainable economic, political and democratic development. Armenia’s energy generation largely depends on imported increasingly expensive fuels and a nuclear power plant. Armenia recognizes that sustainable economic growth and a healthy environment are related. Climate change poses a serious threat to poverty reduction, and many countries are in danger of suffering disproportionately from the effects of climate change. Developing countries are also faced with the challenge of accessing secure and affordable energy in the context of global efforts to reduce carbon emissions.
As part of its shareholders' ongoing commitment to reduce poverty and contribute to the economic development of Armenia, Cascade-Credit recently launched a new lending program aimed at stimulating rural economy in the more depressed and remote parts of the country. A strategic partnership has been formed with the Children of Armenia Fund (COAF) to enable Cascade-Credit to reach more vulnerable families, facilitate their access to financial services, and make a lasting difference in the lives of the rural households and communities of Armenia.
Through our shareholder's understanding of today's challenging and interconnected economic, social and environmental issues we at Cascade-Credit are engaged to promote positive changes for the rural population by continuously seeking new and creative approaches that make a difference in the lives of Armenian families. By forming strategic partnerships with development oriented organizations Cascade-Credit hopes to create more rural job opportunities and increase the economic viability of existing rural businesses that will result in sustainable positive changes for the rural population and improve the standard of living for thousands of Armenian children and their families.
By helping to promote a sustainable and growing rural economy, Cascade-Credit is proud to contribute to the Poverty Reduction Strategy adopted by the Government of Armenia in 2003, which aims at reducing rural poverty rates and boosting annual incomes of the population. Cascade-Credit welcomes NGOs and investors to make a difference in the lives of rural families.