The Minister of Environment Romanos Petrosyan met with Head of Board of Union of Banks of Armenia, Executive Director of ARMSWISSBANK CJSC Gevorg Machanyan and Deputy Director of the Lending Department of ARMSWISSBANK CJSC, Head of Project Financing Division Ara Makaryan.
Greeting colleagues in the Ministry of Environment, the Minister reiterated the importance of effective cooperation between the public and private sectors aimed at environmental protection, implementation of the principles of working capital management and the creation of green jobs.
Giving importance to social responsibility and being more thoughtful and caring towards mother nature, ARMSWISSBANK has repeatedly demonstrated his good example, that for sustainable development of the environment to more responsible management it is necessary to combine efforts.
The Minister also expressed gratitude for the interest shown and active participation in the pan-Armenian initiative "10 million trees". To the offer of cooperation presented within the framework of the "10 million trees" initiative, the first to respond was ARMSWISBANK CJSC, which on November 14 planted 3,000 seedlings on the territory of the Byurakan Forest State branch of "Aragatsotn Forestry", establishing a forest with an area of 1 hectare.
During the meeting the grant program "Readiness Support and Preparation Support ", funded by the Green Climate Fund (GCF) and implemented by ARMSWISSBANK CJSC was discussed.
The aim of the program is to develop a roadmap for green financing, which will become the main document that will describe the current situation, the main gaps for the development of green financing and will present a comprehensive vision of the development strategy, in support of the National Authorized body to fulfill the obligations under the Paris Agreement. The development of a roadmap, that includes clear proposals, will be aimed at moving from a traditional financial system to a "green" one. Cooperation between the National Authorized Body and the Central Bank will strengthen the potential and provide an opportunity for knowledge exchange, which will increase the country's ability to use the opportunities of climate finance.
A variety of environmental problems and possible ways of cooperation aimed at solving them were discussed.
The Executive Director of ARMSWISSBANK CJSC Gevorg Machanyan suggested deepening cooperation between the state and the banking system and implementing such programs that will have an environmental focus, but will also allow for more efficient use of natural resources.
The parties agreed to intensify cooperation in the implementation of eco-educational programs in forest communities.
"In our country, the banking system is the most established institutional structure and system, which has shown itself in the best way during the post-war recovery. The banking system in terms of public administration as a reliable axis has already taken place in our country," the minister said.