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Official News

Tuesday, 28 June 2011

FREDA 2011-2015 Strategic Development Program Endorsed

The Fund for Rural Economic Development in Armenia (FREDA) board of trustees met at Government, chaired by BOT chairman, Prime Minister Tigran Sargsyan.

To begin with, the BOT endorsed the financial statements and summary findings submitted by an arms-length auditor for FREDA activities in 2010.

FREDA Director Khanikyan presented a draft strategic development program for 2011-2015 which stipulates the main principles and approaches to be observed in supporting rural enterprises, farmers and suppliers in the period under review.

The Fund’s investment portfolio was said at about AMD 1.6bn covering farm produce processing projects to be carried out in the following areas: dairy farming, fruit and vegetable processing, winemaking, poultry and fish farming, as well as installation of new freezing and hothouse facilities. The draft paper was approved by the Board of Trustees.

The meeting decided to engage a new alternative member by making relevant changes to the charter of the Investment Committee. Prime Minister Tigran Sargsyan told the board members to suggest nominees for the position. The last agenda item was that of making of changes to the BOT composition.

October 2020