Yerevan, Armenia – A memorandum of cooperation signed between the Yerevan Municipality and IDBank officially launched a comprehensive renovation project for Moskovyan Park. This initiative, undertaken as part of IDBank’s 35th anniversary celebrations, is envisioned as a gift to the capital city and its residents, focusing on the development of public spaces and the improvement of green environments.
Moskovyan Park to Receive a New Lease on Life
IDBank has stated that one of Yerevan’s most cherished locations will be returned to the city with a renewed spirit, featuring a more landscaped, illuminated, and comfortable environment. The project plans to expand and restore green areas, implement modern lighting systems, upgrade recreational zones, and make the park a more attractive and lively space.
According to Mher Abrahamyan, Chairman of the Management Board at IDBank, this is more than just a memorandum of cooperation; it is the main gift to the capital on the occasion of the bank’s 35th anniversary.
“Moskovyan Park is one of Yerevan’s most beloved places. That is why we agreed without hesitation to finance the proposal received from the Kentron administrative district to improve and give new life to Moskovyan Park. I am pleased to state that in the last 5 years alone, IDBank has planted more than 50,000 trees within the framework of various environmental programs, restoring forested areas. This project is a logical continuation of that path. We thank the Yerevan Municipality and all partners for bringing this important initiative to life,” said Abrahamyan.
A Model of Public-Private Partnership
For the Municipality, this project serves as a successful example of community-private sector cooperation, where corporate social responsibility translates into visible, measurable, and long-term urban results. Petros Petoyan, Head of the Kentron administrative district of Yerevan, emphasized the importance of such partnerships.
“Such collaborations have a significant impact on changing the city’s environment and ecosystem. The community is doing tremendous work to improve the city. In turn, the private sector also contributes to this effort. It is precisely these joint efforts and the synergy effect that lead to long-term and sustainable results,” Petoyan stated.
The announcement concluded by noting that “the Moskovyan Park renovation project is another step towards creating a green, comfortable, and people-centered urban environment in Yerevan.”
The bank is regulated by the Central Bank of Armenia.
