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Official News

Wednesday, 27 August 2008

Armenia Social Investment Fund (ASIF) Council met at the Office of Government under the chairmanship of head of council, RA Prime Minister Tigran Sargsyan.

The Council has discussed the report on ASIF activities for the first 8 months and the 2nd quarter of 2008 under a 3rd lending program.

ASIf Executive Director Ashot Kirakosyan stated that in the period under review (the first 8 months) the planned targets were met by 140%. According to the Executive Director, this rise was made possible by the fact that in order to enhance the role of local self-government authorities and marz administrations some procedural changes had been operated in the Infrastructure Activity of the 3rd program, which started in late December 2006. Moreover, program implementation processes have become more efficacious. Innovative is the completion of welfare programs in close cooperation with the Ministry of Labor and Social Affairs. The report says that as of today a total of 312 programs have been received from different communities representing the totality of marzes, with 166 of them having been approved already. Construction has started in 95 communities. Design work is due to commence in about twenty other communities. Finally, program expertise and design activities are underway in over 100 communities of the Republic. At this point of time, building work is being implemented under 33 programs.

With reference to the same period, incentive work was reported to have been carried out in the communities of Aragatsotni Marz. The ASIF received 32 program applications from Aragatsotni and Tavush marzes, of which 13 have been approved. During the second quarter of 2008, 4 contracts were signed with different contractors to a total budget of AMD 224 MN (equivalent of about USD 730.000). 3 more contracts have been signed on the procurement of 2416 pieces of school furniture and 1500 soft armchairs for houses of culture.

According to the speaker, in the same period 13 different programs were completed in urban and rural communities to an aggregate cost of AMD 582 MN and to the benefit of nearly 232.000 households throughout the Republic. Construction work was in process under 36 ASIF programs by the end of the 2nd quarter. Borrowed funds were used to the amount of AMD 743 MN. Proceeds from co-financed programs were spent to the extent of AMD 166.4 MN. Outlays under community investments rose to 53.5 drams, with over 80 million drams spent under 14 programs of ASIF III.

The Council took note of the report submitted by the Executive Director of the Fund.

The meeting has also discussed a number of issues of organizational character.

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