Luys educational foundation budget to reach $1.2 million by end-2009

YEREVAN, May 5. /ARKA/. The budget of Luys Educational Foundation will reach $1.2mln by end-2009, RA Prime Minister Tigran Sargsyan said Tuesday.

The foundation’s program will be published soon, the premier said, adding Luys is a private initiative and is sponsored by private investors.

The Luys Foudnation was established last April under the patronage of RA President Serzh Sargsyan, who is also the chairman of the foundation’s Board of Trustees. The foundation’s mission is to finance scholarships of motivated Armenian students abroad.

The foundation will launch its programs this year, with Jacqueline Karaaslanyan, executive director, planning to move from Boston to Armenia.

Each student will receive a $20mln scholarship grant, with the private sector sponsoring the scholarship programs.

According to the author of the program, Arthur Ishkanyan, the program is being carried out ineffectively, as no student has received any scholarship since the foundation opened last year. The foundation has not yet made a list of the world’s most prestigious universities where promising Armenian students can continue their studies as part of their scholarships.

According to the foundation’s plan, around 250 Armenian students can annually continue their studies in the best universities of the world. Some $3mln is to be earmarked for this purpose.

The Luys Foudnation was established last April under the patronage of RA President Serzh Sargsyan, who is also the chairman of the foundation’s Board of Trustees. The foundation’s mission is to finance scholarships of motivated Armenian students abroad. Z. Sh. –0--