Board of Trustees meets The Board of Trustees of the Fund for Rural Economic Development in Armenia (FREDA) met on January 11 in the Office of Government. The sitting was chaired by FREDA Chairman, Prime Minister Tigran Sargsyan. The prime minister said: “FREDA is a new entity, so I wish FREDA a breakthrough year in 2011 so that we will have a sizeable volume of investments and be satisfied with our work. In fact, we are not short of financial resources and success will come with efficient work”. FREDA Director Tigran Khanikian presented the report on the Fund’s activities in 2010, its budget performance and the actions implemented under the annual action plan. In particular, he touched upon the projects implemented by FREDA last year, those at the final stage, and the projects to be implemented in 2011. The report was discussed and approved by the members of the Board of Trustees. The participants of the sitting discussed and approved FREDA’s 2011 draft consolidated budget, the estimate of maintenance costs, and the 2011 annual working plan. The Board of Trustees approved the audit report and the findings of the independent audit organization that conducted the audit of FREDA’s financial and economic activities in 2009.

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