Armenia

German Sparkassenstiftung’s representative office in Armenia opened in Yerevan in 2013. The team in Armenia consists of the country representative, a training expert, a banking expert, an administrative and training assistant, and our IT expert.

The representative office maintains a close network with various local institutions and partner organisations, such as the Central Bank of Armenia (CBA), the Association of Credit Organisations of the Republic of Armenia (ACORA), the Union of Banks of Armenia (UBA) as well as several national and international non-governmental organisations. Local financial institutions cooperate with German Sparkassenstiftung on topics such as financial literacy, demand-oriented financial services and prevention of over-indebtedness.

From 2016 to 2018 German Sparkassenstiftung in Armenia helped implementing the “Economic Integration of Syrian Refugees in Armenia” (EISRA) project. From 2015 until 2021 German Sparkassenstiftung in Armenia was part of German Sparkassenstiftung’s regional project “Responsible Finance for the Caucasus” that focused on improving the financial literacy and economic situation of the population, which was funded by the German Federal Ministry of Economic Cooperation and Development (BMZ). As part of the project, German Sparkassenstiftung supported the Central Bank of Armenia by developing and implementing the National Strategy on Financial Education (NFSE) and became part of the NFSE steering board.

On 1^st of March 2021 German Sparkassenstiftung in Armenia started implementing a new programme financed by BMZ, which aims at improving access to finance as well as business and risk management skills of MSMEs in rural areas. The first programme phase will last until the end of 2022.