IDBank Supports 103 Artsakh Students at YSU with Scholarships Exceeding 35 Million Drams
Yerevan, April 5 – IDBank announced today that it has signed a memorandum of cooperation with Yerevan State University (YSU) to provide financial assistance to 103 students from Artsakh. As part of its ‘Side by Side’ social responsibility initiative, the bank will cover the tuition fees for these students, amounting to over 35 million drams. This significant contribution aims to ensure the continuity of their education and promote social stability.
Addressing Educational Challenges for Artsakh Students
Mher Abrahamyan, Chairman of the Management Board at IDBank, emphasized the bank’s commitment to supporting compatriots. “Yerevan State University conducted a needs assessment, revealing that 103 Artsakh students were at risk of discontinuing their studies due to social problems,” Abrahamyan stated. “Prioritizing education and its continuity, IDBank decided to transfer the tuition fees for all 103 students to YSU. Through such initiatives, we not only provide material support but also instill a sense of stability and confidence in young people, helping them build their future in Armenia.”
Hovhannes Hovhannisyan, Rector of Yerevan State University, highlighted YSU’s unwavering support for Artsakh students from the outset. “We have reached out to our friends, partners, and all organizations willing to share this responsibility and contribute to shaping the future of our students,” Hovhannisyan said. “Today, we are particularly pleased to note that IDBank has joined this crucial initiative, making a truly significant contribution. We highly value this partnership and express our profound gratitude to IDBank for their trust, care, and emphasis on the continuity of education for our students.”
Beyond Financial Aid: Promoting Financial Literacy
In addition to financial assistance, IDBank will also contribute to enhancing the financial literacy of young people. Bank specialists will visit various faculties and conduct financial education courses for students. Such meetings have already taken place with first-year students of YSU’s Faculty of Economics and Management.
IDBank’s ‘Side by Side’ Program: A Commitment to Community
IDBank’s ‘Side by Side’ program was launched in 2024, demonstrating the bank’s ongoing commitment to social responsibility. Previous initiatives under this program include:
- “By Your Side”: A new IDBank support program aimed at forcibly displaced Artsakh residents.
- With IDBank’s funding, the village of Svarants will have a kindergarten: The “Side by Side” program continues.
- “Side by Side”: IDBank’s new program for Artsakh residents has been launched.
- Scholarships for 100 Artsakh students within IDBank’s “Side by Side” program.
- IDBank has summarized the results of the financial education program for Artsakh schoolchildren.
The memorandum of cooperation between IDBank and YSU underscores a shared vision for empowering the next generation and ensuring access to quality education for all, especially those facing challenging circumstances.
