Carina Mai
Ostsächsische Sparkasse Dresden
Armenia is a country that preserves its cultural roots whilst looking to the future with great enthusiasm. For two weeks, I supported a project implemented by the German Sparkassenstiftung for International Cooperation in Armenia and was able to experience how tradition, hospitality, and the modern financial world are intertwined in Armenia.
I was particularly impressed by the dynamism of the Armenian financial sector. It combines traditional values with innovative financial solutions, thereby creating an environment in which new ideas can flourish. A good example of this is Farm Credit Armenia, a credit cooperative in the country. It was founded by farmers who joined forces to better finance their businesses. The principle that members are also owners strengthens trust, responsibility, and community. At Farm Credit Armenia, modern financial technologies and sustainability standards are increasingly being put into practice.
Armenia’s cultural distinctiveness soon became apparent in my day-to-day working life. The daily coffee ritual is far more than just a short break. It is an expression of hospitality and often the natural way to start any conversation. Almost every meeting begins with a small cup of strong Armenian coffee. At the same time, the smartphone is a constant companion: people communicate quickly, directly and of course digitally – both at work and in their private lives. This combination of personal connection and modern communication has made interactions with local colleagues particularly open and friendly.
A focus topic of my visit was the importance of sustainability and European ESG standards. Armenia is strongly aligned with European guidelines. Banks and credit unions are increasingly focusing on sustainable financial products, climate-friendly projects, social inclusion, and transparent corporate governance. It is precisely in this context that the value of the German Sparkassenstiftung as a reliable and strong partner within the Armenian financial sector becomes apparent. Through collaboration with partners such as Farm Credit Armenia, I was able to see how these topics are being put into practice step by step.
My stay in Yerevan has shown me that tradition and innovation go very well together. The combination of cultural openness, personal interaction, digital dynamism, and a clear focus on sustainable development makes Armenia an exciting and inspiring partner within the Sparkasse community.
I would like to thank the German Sparkassenstiftung, the local team, and all my colleagues who made this exchange possible. The two weeks I spent in Yerevan have given me many new insights, professional inspiration, and personal encounters, which I value greatly. Together, we are creating opportunities – for the people of Armenia as well as for our own work in Germany.