ArmEconombank and all commercial banks, Central Bank of the RA, Union of Banks of Armenia together with “My forest of Armenia” are establishing 50 hectar new forest in Jrashen and Urasar communities of Lori region building 160 000 trees, which will symbolize the eternity of the national currency.

20 hectares of newly created forest will be in Jrashen 2, and another 30 hectares in Urasar. At the end of the community land use period, the lands and the forest ecosystem formed on it will be returned to the community. Armenia is a sparsely forested country, and the current percentage of forest cover is not sufficient to maintain the natural ecological balance of the country. This event is one of the best examples of the financial and banking system's appreciation of the exclusive role of creating lasting values, social responsibility and nature conservation.

Chairman of the Board of the Union of Banks of Armenia Mher Ananyan, CEO Seyran Sargsyan, the managers and employees of commercial banks, Governor of Lori Aram Khachatryan, Founding Director of “My forest Armenia” environmental organization and other guests had their individual participation to forest establishment works on April 29 under the leadership of the Chairman of the Central Bank Martin Galstyan.  A symbolic tree planting took place with the participation of all guests in the afforestation area of "My Forest Armenia" environmental organization, Jrashen 2, located in the Jrashen community, and local Armenian forest tree species were planted.

After the tree planting, the guests also visited "Penjamin Gumushjian" nursery of "My Forest Armenia" in Gugark, where after making a short tour, the President of the Central Bank Martin Galstyan, the Chairman of the Board of the Union of Banks of Armenia Mher Ananyan and the founding director of "My Forest Armenia" Andre Gumushjian signed a memorandum of cooperation. .

 The anniversary of Armenian dram is on November 22. On that very day in 1993, the Central Bank of Armenia announced the start of circulation of its own national currency instead of the Soviet ruble. And the population of the republic has been using the Armenian currency, AMD, for already 30 years.

The name of the RA national currency “dram” has been determined by a special committee, and “penny” of the product unit on March 27 1993. “Dram” and “Penny” have been chosen as main and exchangeable currency with the majority of votes.

 “My forest Armenia” environmental public organization has been established on 2019 with the aim of increasing the forested areas of Armenia.   Empowering local communities, the organization's mission is to sustainably increase forest cover under the guidance of scientists and experienced foresters and preserve biodiversity by planting only local tree species. During the 4 years of operation, more than 1,360,000 trees were planted in the Lori Region, in an area of 387 hectares, and reforestation works were carried out in the "Dilijan" National Park. The number of permanent employees of the organization is 49, who are joined by another 200 workers from local communities during the afforestation and maintenance season.

Updated: 12/05/2023 11:42