YEREVAN, November 17, /ARKA/. Areximbank-Gazprombank Group said today it has received 500 applications from Armenian students wishing to win one of its one-time stipends.

The offer is part of a special program called ‘For All Country and for Interest of Each Student.’ Earlier the bank said the goal of this special offer is to help young students who are demonstrating not only excellent academic achievements but who are also active in public and research areas.

Alexander Hakobyan, a chief specialist from the bank’s department in charge of clients and marketing, said the deadline for the offer announced October 19 expired November 15. He said the bank received 500 electronic applications from students majoring both at state-run and private universities.

He said twenty applicants will be selected by a scoring system and by a special commission in several categories like excellent academic progress, public activity and social status. The competition is for fifth –year students as well as for second-fourth year bachelors and students seeking master’s degree from state-run and private universities. The amount of one-time stipend is from 40, 000 to 400, 000 Drams.

The list of winners will be published December 15 on the bank’s officials website and winners will be invited to a special ceremony to get their stipends.

Alexander Hakobyan said the bank has earmarked 2 million Drams to distribute as stipends. The 400,000 stipend will be awarded to only one applicant.

Areximbank-Gazprombank Group (formerly Areximbank) was established in 1998 to handle financial flows between Armenia and Russia. It is a principled member of VISA International and MasterCard International payment systems. In 2007 it joined Armenian ArCa payment system. The bank is owned fully by Russian Gazprombank. It has 1 6 branches in Yerevan and 9 in regions. M.M. -0-