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Official News

Tuesday, 16 January 2018

Rural Areas Economic Development Fund Board of Trustees Holds Regular Meeting

The Board of Trustees of the Rural Areas Economic Development Fund met today in the Office of Government, chaired by Prime Minister Karen Karapetyan.

After making amendments and changes to the Fund’s Charter, the Board discussed and approved the final report on the activities envisaged in the Fund’s annual work program for 2016-2017, the summary report on the monitoring carried out in customer companies for the period from 2016 to 2017, the independent auditor’s findings and the 2016 financial statement, as well as the Fund’s 2016-2017 budgets performance.

The Fund was said to have co-financed 4 investment projects to the amount of 500 million drams in the period under review. The projects were implemented in the fields of agriculture, fishery and cardboard production. The Board next approved the Fund’s annual activity program for 2018, which envisages co-financing of 4 development programs to a total cost of 600 million drams.

The meeting discussed ways of enhancing the efficiency of the Fund’s activities. Prime Minister Karapetyan instructed to discuss the matter and submit proposals to that effect.

July 2024