Economic Empowerment project for the Youth affected by Nagorno-Karabakh conflict

15.11.2021 | 16:21 Home / News /
#“SOS Children's Villages Armenia” #HSBC Armenia #Nagorno Karabakh
“SOS Children's Villages Armenia” Charitable Foundation and “HSBC Bank Armenia” CJSC (HSBC Armenia) have signed an agreement within the framework of which the bank provides AMD 8,204,000 donation in assistance to support the “Economic Empowerment of Youth Affected by Nagorno-Karabakh Conflict” project.

The project is implemented with the support of the Aurora Humanitarian Initiative Charitable Foundation, HSBC Armenia and the SOS Children’s Villages Armenian Charitable Foundation.

The aim of the project is to enhance the economic opportunities and employability of the youth affected by the conflict through quality education, training opportunities and acquisition of soft, vocational and entrepreneurial skills, as well as through start up grants and job placement support. The beneficiaries of the project are migrant young people aged 17-35 affected by the Nagorno Karabakh conflict.

The project has three main components: Development of life skills to increase working capacities, Improvement of professional skills and Development of entrepreneurial skills.  

Development of life skills to increase working capacities: The courses covering "Life Skills" and "Employability" aim to develop the personal and practical skills of the beneficiaries.

Improvement of professional skills:  Beneficiaries will participate in professional and vocational courses to improve their employability opportunities. Beneficiaries who participate in vocational trainings or already have a profession relevant to the local labour market yet need a toolkit to start income-generating activities will get the necessary support thanks to the project.  

Development of entrepreneurial skills: Motivated and business-minded candidates will be selected for the entrepreneurship courses the project offers. The project will support a group of young people in developing their business ideas, who will acquire business skills and will be taught and encouraged to create outstanding innovative business models and projects with the support of mentors. At least 10 viable small businesses approved by the selection committee will receive initial capital to cover start-up costs (e.g. registration of the business, acquisition of necessary equipment and raw material, etc.)

At the end of the aforementioned courses the participants will be granted certificates.
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