Within the framework of the “Homeland and Eternity” fundraising campaign initiated by the Hayastan All-Armenian Fund, Armeconombank has donated AMD 50 million for the reconstruction of the Spandaryan Canal in the Syunik province.

The bank reported that the project is of strategic importance for the country. The Spandaryan Canal is currently up to 70% damaged, resulting in the lack of irrigation water for the communities of Sarnakunk, Ishkhanasar, Tsghuk, Spandaryan, Angeghakot, and Shaki.

Following the reconstruction, efficient irrigation will be ensured for 2,800 hectares of agricultural land, directly benefiting 730 families, or approximately 4,320 residents.

“The choice of the project is not coincidental. The strategic development and strengthening of Armenia have consistently been a priority for the Sukiasyan family. The reconstruction of the canal will contribute to the strengthening of the Syunik province and enhance regional resilience,” the bank said in a news release.

In 2024, Armeconombank also allocated AMD 20 million to the Fund, supporting the long-term sustainability of its initiatives.

 Armeconombank is supervised by the Central Bank of Armenia.