In a collaborative effort between the HSBC Bank Group and the “Orran” charitable non-governmental organization, 200 young individuals have been empowered with opportunities to secure employment or establish their own businesses.
A closing event took place at the Armenia Marriott Hotel, marking the culmination of the two-year “Youth for Community Development” program. The initiative, funded by the “HSBC Bank” Group and executed by the “Orran” charitable NGO, aimed to enhance employment prospects for 200 individuals aged 16-35 living in underprivileged communities across four Armenian regions: Lori, Shirak, Vayots Dzor, and Aragatsotn, including young people displaced from Artsakh.
The project also aimed to promote social inclusion and entrepreneurial development. The program not only provided professional skills but also educated the participants on business management, entrepreneurship, and financial literacy. The necessary materials and equipment for practical training were also provided.
It’s important to recognize that the program successfully aided young individuals in overcoming poverty by either finding a job or starting their own business. Additionally, 25 participants with the best business plans received a grant of $700 each to improve their tools and develop their businesses. On the other hand, many of the other participants have found employment in their communities, and it’s worth noting that many vocational education teachers have hired their students as assistants.
During the closing event, a business expo was held to showcase the work of young people from four regions who collaborated with their mentors for three months to create business products. They presented their products, shared stories of the creation and realization, and sold some samples. Armine Hovhannisyan, the founder of “Orran” a charitable non-governmental organization, highlighted the program’s importance, stating that it provides the opportunity to get a decent job.
“At HSBC, we have a long-standing commitment to support the communities in which we operate. From the very first days of its operation in Armenia, HSBC Armenia has been implementing projects, which would positively affect the lives of community residents and bring hope to less advantaged groups of people. Our cooperation with Orran NGO is the reflection of our commitment, which, I believe, will serve as a platform for generating employment opportunities in the regions and will have a long-lasting positive impact on the lives of residents,” Irina Seylanyan, CEO of HSBC Armenia, added.