The Tufenkian Foundation is building a new neighborhood in the village of Svarants, Syunik Province, to resettle 20 families from Artsakh. 

The 4 hectares of land designated for the neighborhood were allocated to the foundation by the Tatev Municipality. According to those in charge, the most important condition for the success of the project is creating comfort for the people so that they choose to stay in the village and continue building their future in their homeland.

To achieve this objective, the foundation has launched the project by developing infrastructure in Svarants, among which the kindergarten holds a unique and important place. The village has never had a kindergarten – not even during the Soviet era, when the village was still densely populated. The entire cost of creating the kindergarten was fully covered by IDBank, which allocated 10,000,000 AMD within the framework of the “Side by Side” program.

The bank reported that the kindergarten will be located on the second floor of the renovated community center, which will also include a kitchen and restrooms. It will feature dedicated areas for learning, playing, and sleeping, furnished appropriately for each age group and equipped with soft flooring in the play area, along with other child-friendly amenities.

“In addition to supporting our compatriots displaced from Artsakh, the “Side by Side” program also reflects IDBank’s commitment to one of its key areas of social responsibility – the development of the regions,” the news release reads.

IDBank’s “Side by Side” Corporate Social Responsibility (CSR) program was launched in 2024 and has since carried out various initiatives aimed at improving employment opportunities and encouraging education for people from Artsakh through education-focused projects.

The bank is supervised by the CBA.