Moscow Park to be renovated: gift to Yerevan on IDBank's 35th anniversary

PanARMENIAN.Net - A memorandum of cooperation signed between the Yerevan Municipality and IDBank announced the launch of a large-scale renovation project for Moscow Park.

The initiative, implemented on the occasion of the Bank's 35th anniversary, will be a gift to the capital city and its residents, aimed at developing public spaces and improving the green environment.

One of Yerevan's most beloved spots will be transformed into a brighter, greener and more welcoming public space. The project plans to expand and restore green zones, install modern lighting systems, upgrade recreational areas, and transform the park into a more attractive and vibrant space.

According to Mher Abrahamyan, Chairman of the Management Board of IDBank, this agreement is more than just a memorandum of cooperation—it is the Bank's primary gift to the capital to mark its 35th anniversary:

“Moscow Park is onе of Yerevan’s most beloved spots. That is exactly why, without much hesitation, we agreed to fund the proposal from the Kentron administrative district to renovate and revitalize it. I am pleased to note that over the past five years alone, IDBank has planted over 50,000 trees through various environmental initiatives, restoring forested areas. This project is the logical continuation of that journey. We are grateful to the Yerevan Municipality and all our partners for bringing this important initiative to life,” noted Mher Abrahamyan.

For the Yerevan Municipality, this project is a successful example of public-private partnership, where corporate social responsibility is transformed into a tangible, measurable and long-term impact on the urban environment

Petros Petoyan, the head of the Kentron administrative district of Yerevan, paid special attention to the importance of public-private cooperation:

“Such collaborations have a significant impact on transforming the city’s environment and ecosystem. The municipality is doing a tremendous amount of work to improve the city. In its turn, the private sector is also contributing and investing in this effort. Only through such joint efforts and synergy can we achieve long-term and sustainable results," emphasized Petros Petoyan.

The Moscow Park renovation project marks another step forward in developing a green, comfortable and people-centric urban environment in Yerevan.

The Bank is supervised by the CBA