ARARATBANK co-finances construction of InSport Syunik Wellness Center

On January 14, at 17:00, Kapan, the regional center of Syunik, hosted the opening ceremony of the largest regional sports club InSport Syunik, the construction of which was co-financed by AraratBank.

The long-term and reliable cooperation between ARARATBANK and YSU Alumni Association NGO was launched with the signing of the memorandum in 2013, and the first large loan was provided in August 2013, when the construction works of Tsarav Aghbyur and Paruyr Sevak projects started. The construction of InSport Syunik Wellness Center commenced in 2019, but was later suspended owing to the Covid-19 pandemic and the war and was reactivated from March 2022 with additional funding from AraratBank.

"Our partnership with YSU Alumni Association NGO began 12 years earlier and was built and developed on strong foundations of mutual trust. It is inspiring that by the investment into the project in Kapan, we contributed not only to the construction sector development in the border area, but also to the increase of employment opportunities and a healthy lifestyle,” said Mher Ananyan, Chairman of the Executive Board of ARARATBANK OJSC.