It’s been two and half weeks since I came to Armenia. Apologies for lack of elaborate posts – work has been consuming most of my time and inspiration. Conducting surveys in Armenia proved to be a much more strenuous task than it was in Georgia – partly due to logistical problems with our host organization, partly due to the overall character treats of my country-men. However, after a week of extensive travels, my love for Armenia proportionally increases as my liking of Yerevan gradually decreases. Unfortunately, my camera broke and I didn’t have a chance to capture the magnitude of Ararat, the sparkling beauty of the lake Sevan and the depth of the green mountains in Dilijan and Ijevan. The beauty of my country is humbling and awe inspiring. While working with people requires a lot of skills in diplomacy, I truly enjoy communicating with them, especially the folk living outside Yerevan. There is a lot to be learned from them – a lot more than any report on the state of the country would ever tell you.

The depressing aspect of my work is that I do not completely agree with what the organization that I represent does for the people. FINCA mission aside, it is obvious that microfinance in the region does not defer much from any given commercial bank – it is perceived as such, it operates as such. Interest rates are high, poverty outreach is minimal and repayment schedule is so rigid that at times I wonder why anyone would want to borrow on such terms. But then I realize that there is no other alternative and it makes me even more depressed. I think about the “untapped” market that FINCA executives constantly talk about, then I think of the rural folk who are the part of this “untapped” market… I wonder what it is like in other places of the world – I wonder whether microfinance is really what it is presented to be while it is still hot and “sexy.”

I have five more days of field work left. As of right now I am completely clueless what our analysis is going to reveal. While I know the obvious, I am somewhat reluctant to see the results, knowing equally well that there is no way that it would reflect the stories of the simple folk that I have heard so far…