A series of financial literacy training sessions aimed at empowering women entrepreneurs took place across Armenia in the cities of Yerevan, Vanadzor, and Gyumri.

The sessions, which brought together 54 small and medium-sized enterprises (SMEs) led by women, were organized by ARFIN UCO and the European Bank for Reconstruction and Development (EBRD), with the implementation support of Optimise Consulting. The program was financed by the European Union (EU) as part of its commitment to promoting gender equality and economic development in the region.

The training series, designed to equip women entrepreneurs with essential financial management skills, focused on topics such as budgeting, financial planning, investment strategies, and access to finance. By enhancing participants’ understanding of these crucial aspects, the program aims to boost their ability to manage and grow their businesses sustainably.

“We are proud to have collaborated with the EBRD on this vital initiative that directly supports the development of women-led businesses in Armenia. Through these training sessions, we hope to inspire confidence and provide the tools necessary for Armenian women entrepreneurs to thrive in today’s competitive business environment. Many participants implemented new budgeting and record-keeping practices in their businesses. They gave feedback that it was an eye-opening session for them in terms of understanding the importance of separating personal and business finances and how to analyze the business and make informed decisions. The training fostered a sense of community among participants, leading to collaborations and shared learning experiences, as by equipping micro-entrepreneurs with essential financial skills, the program not only enhances individual business performance but also contributes to broader community economic development. The positive outcomes highlight the importance of continued investment in financial literacy initiatives for micro-entrepreneurs,” said Karine Sarkissian, Member of the Board of Directors, Chairman of the Social Performance and Client Protection Committee.

The training sessions were part of a broader initiative by the EBRD to support gender equality and encourage women’s entrepreneurship across the region. The EBRD’s involvement in this program is aligned with its ongoing commitment to fostering inclusive economic growth by empowering women in business.

“Women entrepreneurs are a driving force for economic development, and programs like these are critical to helping them succeed. We are pleased to partner with ARFIN UCO to offer this invaluable training, which will help Armenian women entrepreneurs take their businesses to the next level,” said Zara Ohanyan, Head of Advisory, EBRD Armenia.

The series of workshops not only provided crucial financial insights but also fostered a strong sense of community among the participants, who shared experiences and built networks that will help them navigate challenges in their entrepreneurial journeys.

The training sessions in Yerevan, Vanadzor, and Gyumri were widely praised for their practical approach and the expertise shared by the trainers. Participants left the workshops with a greater sense of financial empowerment and a clearer roadmap for managing their businesses with confidence and clarity.