YEREVAN, March 19. /ARKA/. The SOS Children's Village Idjevan charity foundation will be using soon a "green" source of solar energy as part of a project implemented by ACBA-CREDIT AGRICOLE BANK and Hayastan All-Armenian Fund, the Yerevan-based bank said in a press release today. It said the installation of 14 solar water heaters with a capacity of 500 liters is underway already.

It said thanks to the use of alternative energy sources the SOS Children's Village in Idjevan will not only reduce water heating costs by 100%, but will also significantly reduce emissions of carbon dioxide.
The project’s funding comes from the funds generated by Visa Barerar (Visa Benefactor) banking cards and from the cooperation between the ACBA-CREDIT AGRICOLE BANK and the Hayastan All-Armenian Fund. The installation of the solar water heating system is being carried out as part of the first phase of the project to be followed by the construction of the photovoltaic station.

ACBA-CREDIT AGRICOLE BANK transfers part of the funds from the Visa Barerar cards to the Hayastan All-Armenian Fund. Thanks to the raised money, large-scale charity projects are regularly implemented.

Visa Barerar charity cards were issued in November 2012 by ACBA-CREDIT AGRICOLE BANK together with the All-Armenian Hayastan Fund and the Visa in honor of the Fund's 20th anniversary. This project was aimed at raising funds for financing projects supporting orphanages in Armenia.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-