AraratBank participated in the WEPs regional experience-sharing workshop
AraratBank participated in the UN Women regional workshop titled “Workshop – WEPs Exchange: Developing the capacity of private sector to implement WEPs.”
Almost all WEPs principles have been part of the Bank’s activities long before joining the program.
The workshop, which brought together business representatives from the region, was attended by 7 leading Armenian companies from the financial-banking, investment, service provision, marketing research, and other sectors. The purpose of the event was to develop the private sector’s potential to promote gender equality in the workplace, marketplace, and community.
The Armenian delegation was represented by Anna Allahverdyan, Head of the Communications and SCR Programs Coordination Division at AraratBank. Among other principles, she spoke about women’s representation in leadership positions in the private sector, with AraratBank’s practice shown as an example, as well as provided relevant statistics on the public sector.
“Representing Armenia and AraratBank at the WEPs regional experience-sharing workshop was compelling for me. Since 2022, AraratBank has joined the UN Global Compact and the WEPs Women’s Empowerment Principles, becoming the first financial institution to join the WEPs initiative that year. The principles defined by this program were already pursued by AraratBank, serving as guidelines for how to treat women and men equally in the workplace in terms of salaries, advancement, and other aspects. For this very reason, the decision was made to join the Women’s Empowerment Program and improve internal processes,” noted Anna Allahverdyan, Head of the Communications and SCR Programs Coordination Division at AraratBank.
“The Women’s Empowerment Principles (WEPs) offer a practical and globally recognized framework for businesses in Armenia to advance gender equality and create more inclusive, resilient workplaces. In a context where women’s participation in economic life remains uneven, WEPs help bridge the gap by promoting leadership opportunities, equal pay, and safe work environments. UN Women in Armenia actively supports this effort by engaging with the private sector, encouraging companies to become WEPs signatories, and providing technical guidance to translate these principles into measurable actions that benefit both women and business performance,” noted Zaruhi Tonoyan, Programme Specialist at UN Women Armenia.
“We travelled to Tbilisi to exchange experience in applying effective mechanisms for women’s economic empowerment, to highlight their effectiveness for business, and to establish new business ties. Тhe showcasing of substantial and exemplary experiences by the Armenian delegation, most vividly demonstrated by AraratBank’s report, was particularly important. The Bank’s actions aimed at gender equality include not only ensuring an equal and developing environment within the organization – with clearly developed internal policies, healthcare and sports packages, flexible working conditions, reduced working hours for caregiving women, and clear paths for personal and professional growth – but also beyond the organization – through women’s entrepreneurship promotion programs, community engagement initiatives, and ongoing awareness work with the public to foster women’s economic participation,” noted Naira Margaryan, UN WEPs Advisor.
During the workshop, representatives of Armenian companies explored international best practices, participated in sectoral discussions, and developed action plans for the effective implementation of WEPs principles. The event also provided an opportunity to establish partnerships with regional actors and foster cooperation.
AraratBank is regulated by the Central Bank of the Republic of Armenia.