Fast Bank, within the framework of the tripartite memorandum signed by the Central Bank of the Republic of Armenia, the Union of Banks of Armenia, and the "My Forest Armenia" NGO, has allocated 12 million 250 thousand AMD to the project to establish a new forest in the Lori region. With Fast Bank's financing, 16,667 trees will be planted across 5.55 hectares.
In parallel with numerous social, educational, and cultural programs, Fast Bank also prioritizes addressing Armenia's environmental challenges, including nature conservation, desertification, and air pollution, which require urgent solutions today. The bank has already supported environmental programs on many occasions through various initiatives, and this investment will also contribute to increasing green areas.
The afforestation will be implemented by the NGO "My Forest Armenia." It is planned to establish 100 hectares of new forests on the lands of the Lernajur settlement in the Pambak community of the Lori region over the next 3 years. A total of 300 thousand trees of local forest species will be planted. At the end of the project, the community lands and the forest ecosystem on them will be returned to the community, and the forest will become community property. Two hundred fifty million drams will be jointly spent to implement the afforestation.
Founder and Director of the "My Forest Armenia" NGO, Andre Gumushjian, emphasized that establishing new forests is a long-term investment that is crucial to our country's sustainable economic development. Chairman of the Central Bank of the Republic of Armenia, Martin Galstyan, also noted: "I am convinced that this work will be continuous, and our joint efforts will create the Armenia that we are obliged to leave to future generations."
The implementation of the project will contribute to reducing air pollution, conserving water resources, combating soil erosion and desertification, and creating opportunities for sustainable, green development in communities.
Fast Bank is a company aiming to become a digital bank that constantly supports the solution of various problems in Armenia and invests in education, sports, culture, and other sectors.
Fast Bank is represented in Yerevan and across all regions of Armenia, with 24/7 operations.
The Central Bank of Armenia supervises Fast Bank.
