Friday, 10 April 2015
ATDF Board of Trustees Holds First Meeting
Chaired by Prime Minister Hovik Abrahamyan, the Armenia Territorial Development Fund Board of Trustees held its first meeting in the Office of Government. The meeting discussed Armenia’s Social Investment Program and the Territorial Development Fund and World Bank-co-financed Social Investment and Local Development Program.
ATDF Executive Director Ashot Kirakosyan introduced the results of Armenia Social Investment Fund (ASIF) 3rd program. It was reported that since 2006, the Foundation has implemented 319 infrastructure projects in 184 communities. 41% of the completed projects relate to education and vocational schools, 28 percent - rural community centers and houses of culture, 14% -kindergartens and so on.
It was reported that in 2014, the Government joined the World Bank to develop an ASIF development strategy for the next few years. Subsequently, the Government passed a resolution to rename the ASIF into Armenia Territorial Development Fund, approve a new statute and Board of Trustees composition. The Territorial Development Fund was entrusted with the implementation of the World Bank-funded social investment and local development program.
It was noted that in order to finance the Armenia Social Investment and Local Development Program, a relevant arrangement was signed with the International Bank for Reconstruction and Development (IBRD). The project has two components aimed at the reconstruction of infrastructure and local development.
Mindful of successful program implementation, Prime Minister Abrahamyan stressed that it should be implemented according to the proposed timetable.
