Republican Party of Armenia

 Chaired by Prime Minister Tigran Sargsyan, the Rural Economic Development Fund Board met today in the Office of Government.

The meeting first reviewed and approved by the Fund’s 2012 annual report and a statement on budget performance and annual program implementation. About AMD1.314bn was said to have been invested in some 10 companies, with nearly 328 million drams provided in subordinated loans. It was reported that additional assets will be invested in three more enterprises in the near future.

Then, the Board took note of Independent Auditor’s findings concerning the Fund’s 2012 financial activities.

In conclusion, the meeting discussed and approved the Fund’s draft report to the Ministry of Justice, as well as the program of activities for the next 3 years to be implemented on the basis of financial self-sufficiency.