ArmInfo."HSBC Bank Armenia" CJSC (HSBC Armenia) will be allocating AMD15 million to COVID19 relief and recovery effort in Armenia.
According to the press service of the Bank, the funds will be donated to the Armenian Red Cross Society (ARCS), which will identify the most pressing humanitarian needs of vulnerable groups in the country and provide both immediate as well as medium and long-term response.
"From the start of its operations in Armenia back in 1996, HSBC Armenia has always stood by the side of the most vulnerable in the country. In these challenging times our donation will help address the needs and mitigate the hardships of the most affected groups in Armenia. In order to achieve this, we are working with our long-standing partner Armenian Red Cross Society, which is one of the leading experts in disaster relief in Armenia and globally," said Irina Seylanyan, HSBC Armenia CEO.
COVID-19 assistance in Armenia is part of HSBC's USD25 million Disaster Relief Fund aimed at supporting the international medical response, protecting vulnerable people and ensuring food security around the world. Of this figure, USD15 million is already being put to good use for immediate response in different countries, with the remaining USD10 million set aside for longterm COVID-19 commitments.
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