Byblos Bank Armenia has joined a unique initiative through which, with the support of the Central Bank of the Republic of Armenia and all commercial banks, 100 hectares of new forest will be established over the next 3 years in the Lernajur area of the Pambak community in the Lori province.

The project was launched with the signing of a trilateral memorandum between the Central Bank of Armenia, the Union of Banks of Armenia and My Forest Armenia NGO.

This cooperation continues the initiative carried out in 2023 on the occasion of the 30th anniversary of the Armenian dram, when all banks of Armenia and the country’s Central Bank planted 50 hectares of forest near the communities of Urasar and Jrashen in Lori.

Afforestation will be carried out by My Forest Armenia on community lands with the goal of creating sustainable, biodiversity-rich forests. At the end of the community land-use period, these lands, together with the forest ecosystem established on them, will be returned to the community, and the forest will become community property. My Forest Armenia will continue to care for the planted trees, ensure their preservation and replace any dried trees as needed.

As part of its CSR strategy, Byblos Bank Armenia supports educational, cultural, and environmental projects.