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Official News

Tuesday, 15 February 2011

Armenia’s Social Investment Fund Board of Trustees holds sitting

Armenia’s Social Investment Fund (ASIF) Board of Trustees met in the Office of Government, chaired by BOT chairman, Prime Minister Tigran Sargsyan.

Under agenda item 1, the meeting reviewed the 2010 annual report of ASIF. Executive Director Ashot Kirakosyan advised that this year’s activities covered all the regions of the country: some 47 arrangements were signed with individual communities to give effect to those proposals received from urban and rural communities. 20 projects are in the design and tender stages. Construction is underway in the framework of 29 projects.

Construction work to a total budget of AMD 3bn was said to have been completed in 56 projects during 2010 covering some 537 thousand beneficiaries all over the country, with an average cost of 5491 dram per each beneficiary. As of December 31, 2010, 197 sub-programs were completed under the program with an aggregate cost of AMD 10.2bn, of which 44% had to do with general and specialized educational institutions.

5 school furniture procurement contracts were signed with the suppliers to provide 9056 pieces of furniture to 60 schools. Under another contract, 2388 soft seats were purchased for the cultural centers of 10 rural communities.

ASIF-financed training courses were said to have been held for a total of 515 representatives of 105 communities inclusive of community heads and financial experts in the period under review covering such academic disciplines as financial management, budgeting, tax and property management etc.

The Executive Director of ASIF referred to the continued cooperation with local, international and charitable organizations. In particular, communities were said to have invested AMD 164.4mn for implementation of 55 projects, of which 52% was co-financed by international organizations and Diaspora-based philanthropists. Investments made on behalf of local business circles rose to AMD 16.4mn.

According to Mr. Kirakosyan, a loan agreement was signed on March 5, 2010 between Armenia and the World Bank to ensure a second additional financing to the cost of USD 7 million for vulnerable households in rural communities. The Board of Trustees took note of the 2010 annual report of ASIF.

The meeting also looked at the 2011 ASIF program of activities and discussed a number of organizational issues.

November 2020