On May 19, Byblos Bank Armenia and Yerevan State University signed a memorandum of cooperation to establish a framework for the bank to provide scholarships and tuition reimbursement to 15 high-achieving students.

The bank said during the 2023-2024 academic year, 10 students in the 3rd and 4th years of their bachelor’s program and those working on their master’s degrees at the YSU Faculty of Economics and Management, as well as related disciplines, will receive a nominal scholarship of AMD 1 million each, while five others will get tuition reimbursement. In addition, five of those students will be involved in a practicum program at Byblos Bank Armenia, with the possibility of enrolling with the company in the future. Throughout the following years, too, the bank will provide scholarships to at least 5 students of the YSU Faculty of Economics and Management.

“The partnership seeks to support, promote and implement programs aimed at enhancing the students’ competencies and practical skills, as well as helping them stand out in a competitive job market,” the bank said in a news release.

Byblos Bank Armenia CEO Hayk Stepanyan said the bank attaches great importance to the development of education in Armenia.

“The purpose of this cooperation with YSU is to provide young people with the necessary knowledge and skills to build their careers in the financial and banking system. We look forward to seeing great results coming from this collaboration and hope to welcome YSU graduates in our ever-growing pool of talent in the future,” said Hayk Stepanyan.

YSU rector Hovhannes Hovhannisyan noted the importance of the cooperation and the opportunities that come with it, and said that the effective connection between the university and the labor market is one of the guarantees for the development of education.

“This form of cooperation, in which businesses get involved in the educational process and contribute to the preparation of qualified, professional personnel, is one of the best manifestations of communication that one can imagine. It is noteworthy that scholarships to be provided by our partners will not only serve as financial aid, but will also encourage our students to do better and achieve success,” Hovhannes Hovhannisyan noted.