AraratBank Donates AMD 8 million to the Reconstruction of the Spandaryan Canal
AraratBank has joined the Spandaryan Canal reconstruction project – a matter of strategic importance for Syunik region – implemented under the 2025 “Homeland and Eternity” fundraising campaign of the Hayastan All-Armenian Fund.
AraratBank has donated AMD 8 million to the project, which aims to reconstruct the damaged segments of the canal and restore the 32-kilometer-long water network by 2027.
The Bank’s donation will be allocated to reconstructing the damaged segments of the Spandaryan Canal, thereby restoring the irrigation system and ensuring access to water in a number of communities in the Syunik region.
“AraratBank has always been committed to supporting vital projects for our country—projects focused on preserving our heritage and essential resources to ensure we pass on an economically stronger and more secure homeland to the next generation. The canal reconstruction project is significant not only for Syunik, a region of strategic importance, but also for the balanced development of our country and the well-being of our fellow citizens living in communities across Armenia,” said Mher Ananyan, Chairman of the Executive Board, Chief Executive Officer at AraratBank.
The reconstruction of the Spandaryan Canal is vitally important for the communities of Sarnakunq, Ishkhanasar, Tsghuk, Spandaryan, Angeghakot and Shaki. The project will directly benefit 730 families and will allow for efficient irrigation of 2,800 hectares of land.
AraratBank continues to support the further economic development of our country, shouldering social responsibility and caring for both for its customers and for the entire society.
AraratBank is regulated by the Central Bank of Armenia.