YEREVAN, April 11./ARKA/. Union of Banks of Armenia (UBA) presented Wednesday a new electronic financial library in Yerevan.

The project is implemented in the framework cooperation with Partners for financial stability USAID program.

Armenia’s Union of Banks chief Ashot Osipyan said the library has a unique collection of modern financial and banking literature that is useful either for professionals in this sphere, or students in general.

“Today, there is a real lack of specialized literature in Armenia, especially in Armenian language. That is why it is so important to establish this kind of library that has nearly 65 rare and expensive books,” he said and added that the books contained in the library are published over the past 2-3 years.

Osipyan added the books were selected based on two criteria: world rating and demand in Armenia. “This is the first step and we will continue replenishing the library,” he said.
USAID/Armenia Mission Director Jatinder Cheema highlighted the importance of electronic libraries to make the literature available for common citizens.

She said the project is prioritized as it plays great role for specialists, especially in terms when the access to such kind of literature is restricted in Armenia.

UBA Executive Director Seyran Grigoryan said the joint investments in the program totaled nearly $68,000, 30% of which was contributed by Union of Banks, and 70%- by USAID.
“It took 5 months to open the library, and during that time we had to overcome a slew of hindrances, related to first of all copyrights for these or those books,” he said.

He clarified that the copyrights for obtaining this or that book for the library was received from the leaders of the world publishing industry WILLI and McMillan.

Antares Holding Publishing House head Armen Martirosyan, in his turn, said copyrights for translating some books were obtained with difficulties and under very strict conditions.
Besides electronic books, the visitors will be able to find analytical materials, reports of the Union and other books in UBAnk. The library is open to everyone.—0—