HSBC BANK ARMENIA AND COAF ARE IMPLEMENTING AN ENVIRONMENTAL PROJECT WITH STAR BEING THE FIRST PARTNER
ArmInfo
2009-12-04 19:11:00
ArmInfo. HSBC Bank Armenia and the Children of Armenia Fund (COAF)
have signed an agreement to implement a joint project entitled
"Plastic Bags Free Communities – Environmental Protection and Business
Development Opportunities in Rural Areas" worth a total of $36,000.
The agreement has been signed by CEO of HSBC Bank Armenia Tim Slater
and Founder and Chairman of the Board of COAF Garo Armen.
The project will last till June 2010. HSBC Bank Armenia will provide
$25,000, COAF – $11,000.
Armen says that the object of this project is to ensure plastic bags
free communities, to protect environment and to encourage female
business in rural areas. The project has been launched in Armavir
region, where women will undergo special training and will organize
production of mesh bags for daily shopping and re-usable bags. Armen
says that the project will create new jobs and stimulate the
development of rural areas. He says that environmental projects are
crucial for small Armenia. This project is an excellent example of
partnership between a charitable organization and a financial
structure. Armen points out that the first buyer of the bags will be
STAR, Armenia’s biggest supermarket network.
CEO of HSBC Bank Armenia Tim Slater says that his bank’s mission is
not only to provide stable and long-term services but also to create
stable environment and healthy and developing communities. He says
that one should care not only for economic development but also for
environmental stability and the future generations. HSBC Bank Armenia
gives high priority to social projects, particularly, creation of
training opportunities for poor children and protection of
environment.
Executive Director of STAR Vahan Kerobyan said that STAR participates
in such programs aimed at protection of environment with enthusiasm.
He added that the company has already concluded an agreement on
purchase of 1000 bags for customers instead of plastic bags. "At the
moment we are working out projects on stimulating customers to recycle
these bags. We are also going to offer customers purchase discounts or
provide so-called "green points" to customers, which may be used for
receiving additional services",- Kerobyan stressed. He added that the
company does not pursue an aim of receiving any profit. To note,
"Plastic Bags Free Communities – Environmental Protection and Business
Development Opportunities in Rural Areas" Project also envisages
raising public awareness, developing skills of women by means of
relevant training courses and seminars, as well as forming small
business in rural regions and stimulating production. The shareholders
of HSBC Bank Armenia are HSBC Europe B.V. (70%) and Wings
Establishment (30%). The Children of Armenia Fund is a benevolent
organization that aims to reduce poverty in Armenia by means of
programs that are of much significance in rehabilitation of rural
communities. STAR network of supermarkets has been operating since
1998. At the moment the network has 13 supermarkets (12 in Yerevan, 1
in Hrazdan). One of the STAR shareholders is the European Bank for
Reconstruction and Development (28.3%).