“Stepan Gishyan” charity foundation starts accepting financing applications for grant projects

On the 15th of May, 2015, during the memorial evening dedicated to Stepan Gishyan, Chief executive officer of ACBA-CREDIT AGRICOLE BANK Hakob Andreasyan announced the creation of “Stepan Gishyan” charity foundation. Now, almost a year and a half later, the foundation begins financing grant projects.

We talked with the Chief executive officer of the foundation Anna Gishyan about several questions, including what the foundation will be up to, what projects it will implement.

• Mrs. Gishyan, nearly a year and a half ago you the news about the creation of the foundation was announced. At first, I would like to know how the idea of creating a charity foundation come up, who are the founders and what is the aim of the foundation.
• Stepan has brought new values and culture into the financial-banking and agricultural spheres of Armenia, which has allowed thousands of people working in the agricultural sector to live and create. All of this has been implemented by strengthening the Armenian-French ties, by always promoting the exchange of experience, the establishment and development of business, cultural and ties between the two countries. And for providing the continuousness of this process, not to leave his job undone, Gishyan family, ACBA-CREDIT AGRICOLE bank and French Credit Agricole National Federation created this foundation. 

• And which is the format of the foundation’s activity and what spheres and sectors will it include?
• First, about the spheres. We have included the main social sectors- science, education, health care, economy and culture. This was done with the clear intention to target the most important social challenges of the Armenian economy present in the Armenian communities, as these prevent people from living in their homeland. We will finance projects with long-term effects. As for the format of the activity, the financing will be provided to the most prospective initiatives in the mentioned spheres by providing grants. 

• What amount of funds do you intend to invest to finance those projects? How many projects are you going to implement?
• The total amount of the initial funds donated by the founders comprises 300 MM AMD, which can be increased by newly donated funds, as well as by managing those funds.  Those funds, as I mentioned, will be managed by the foundation, and the main part will be directed at providing grants. We intend to implement one project per sector during the first year by allocating 5 MM AMD for each project. In the future we will try to increase the amount of the provided funds.   

• In this case there is a question whether it is possible to bring any quality changes in the mentioned sectors with that amount of funds.  
• Stepan had a quote, he always said “we will do that…”. Do you remember how ACBA was created? In the 90s the idea of lending to the agricultural sector seemed inane and unpromising. Whereas 10 years after its foundation the bank became one of the biggest financial institutions in Armenia. We have to approach this problem the same way, paying importance to the cooperation with other organizations interested in the development of the mentioned sectors. 

• What is the procedure of applying for grants?
• Naturally, first of all, the presented project should refer to one of the chosen spheres.  Second, it should comply the requirements set by us in the foundation website.  It is also important that the applications are complete, including all the required documents.  All the applicants who meet the requirements presented in the first stage will be invited to an interview. In this stage the professional expert commission for the projects will give its conclusion based on the interview and presented application package. After that, the projects which receive positive conclusion will be presented to the discussion of the foundation board, which will make the final decision.     

• When is the launch of the applications receipt intended to start?
• We intend to accept applications starting from the 10th of January, 2017 until the 10th of March, 2017. Afterwards, the competition for grants will take place and on the 5th of May the winners will be announced.

• And, finally, what is the future you see for the foundation?
• I am sure that several years later we will be able to say that we honorably continue the work of Stepan Gishyan.