100 Hectares of New Forest in Lori Province: Armeconombank for a Greener Future

Armeconombank has joined an important environmental initiative. With the financing of the Central Bank of Armenia and all commercial banks, 100 hectares of new forest will be established over the next three years on the lands of Lernajur settlement of the Pambak community in Lori Province. The project envisages the planting of 300,000 local forest tree species.

On November 28, a trilateral memorandum of understanding was signed between the Central Bank of Armenia, the Union of Banks of Armenia, and “My Forest Armenia” NGO. During the ceremony, strong emphasis was placed on the Armenian banking system’s commitment to the culture of corporate social responsibility. This joint strategic program, valued at more than 250 million AMD, serves as yet another example of that commitment.

This environmental initiative began in 2023 with a project dedicated to the 30th anniversary of the Armenian dram, when all Armenian banks, together with the Central Bank, planted a 50-hectare forest near the villages of Urasar and Jrashen in Lori Province.

Remaining faithful to its commitment to building a greener future, Armeconombank attaches great importance to participating in environmental programs, confident that every timely investment in nature conservation matters.