As part of the commitment to transparency and accountability Lydian Armenia continues to annually disclose the amount of payments to the local governments of Gndevaz, Gorayk and Saravan.

In 2016 the company paid approximately USD 640.000 to Amulsar surrounding communities for land rent, of which Gndevaz received USD 130.205, Gorayk received USD 241.345, and Saravan received USD 267.906.

Lydian noted that the state budget allocation for all three communities in 2016 was approximately USD 71.000.

Since 2008 Lydian has paid over USD 3.3 million to the municipal budgets of Saravan, Gorayk and Gndevaz.

USD 560.000 was additionally paid to Gndevaz municipal budget for change of the land’s category in August 2016.

This financial contribution of the company supported infrastructure development in the Amulsar communities.

Saravan renovated the irrigation system and the municipal building as, constructed a gas supply pipeline. Gorayk constructed a sewerage system previously absent in the community. Thanks to contribution from Lydian, Gorayk also upgraded the drinking water system, thus solving a legacy domestic and health issue. In Gndevaz the community put street lights in the town, renovated a village administration building and bought new agricultural machinery for the community.

In 2016 Lydian Armenia invested USD 260.000 in social development projects in Gorayk, Saravan, Gndevaz and the town of Jermuk.

“As part of our sustainable development commitment in the communities, Lydian requires the communities to contribute to the social projects. With a mandatory participation of at least 10%, this creates ownership of the projects and ensures that the land rent payments are reinvested in the community,” the company stated.