From Armenia in brief: HSBC sponsors yacht building in Armenia

Published: Saturday August 30, 2008

Ayas, the Armenian Navigation Club of Sea Research has built a sailboat christened Nairi. Adhering to ancient traditions of sailboat building, Nairi was made possible through the financial assistance of HSBC Bank Armenia. On August 23, Nairi was launched into Lake Sevan with great fanfare.

According ot ArmInfo, Tim Slater, CEO of HSBC Bank Armenia, said that the bank intends on providing financial support to the building of another ten similar yachts before 2009. Mr. Slater went on to say that every year similar events would be held where bank employees and clients will have the opportunity to learn how to navigate sailboats with the assistance of the Navigation Club of Sea Research.

HSBC bank hopes that their commitment to this project will encourage other businesses to participate in order to boost water sports and recreation activities in the country. The bank provided 3 million AMD for the construction of Nairi.