With the sponsorship of Fast Bank, 16,667 trees will be planted

Fast Bank has allocated 12 million 250 thousand AMD within the framework of a trilateral memorandum signed between the Central Bank of Armenia, the Union of Banks of Armenia, and the My Forest Armenia NGO, for the

 establishment of a new forest in the Lori region. With Fast Bank’s financing, 16,667 trees will be planted across 5.55 hectares.

Alongside numerous social, educational, and cultural programs, Fast Bank places great importance on addressing Armenia’s environmental challenges, as nature protection, desertification, and air pollution are serious issues that

 require urgent solutions today.

The Bank has previously supported various environmental initiatives multiple times, and with this contribution, it will once again help expand green areas.

The forest establishment will be carried out by the My Forest Armenia NGO.

The project plans to create 100 hectares of new forest within the next three years on community lands in the Lernajur settlement of Pambak community, Lori region.

 

A total of 300,000 native forest tree species will be planted.

 

Upon the project’s completion, the community lands and the newly formed forest ecosystem will be handed back to the community, making the forest its property. A total of 250 million AMD will be jointly spent on forest

 establishment.

Antre Gumushdjian, founder and director of the My Forest Armenia NGO, emphasized that establishing new forests is a long-term investment crucial for the sustainable economic development of our country.

President of the Central Bank of Armenia, Martin Galstyan, noted:“I am confident that this work will be continuous, and our joint efforts will shape the Armenia we are obliged to leave to future generations.”

 

The implementation of the project will contribute to reducing air pollution, preserving water resources, combating soil erosion and desertification, and creating sustainable green development opportunities within communities.

 

Fast Bank is a company striving to become a fully digital bank, continuously supporting solutions to various key issues in Armenia and investing in education, sports, culture, and other sectors.

 

Fast Bank operates 24/7 in Yerevan and all regions of Armenia.