"Lincy" responded
There are no missing or misappropriated funds from The Lincy Foundation projects in Armenia. On the contrary, the Armenian government, as per the Memorandum of Understanding (MOU) signed with Lincy, added a substantial amount of funds from the national budget to complete this project," announced Senior Vice-President of the "Lincy" Foundation Harut Sassounian.
"The Lincy Foundation staff in Armenia and the United States closely monitors and thoroughly verifies the proper use of these funds."
Senior Vice-President of the "Lincy" Foundation Harut Sassounian responded to the announcement by MP of "Heritage" faction Anahit Bakhshyan during discussion on the RA 2009 budget executive in parliament.
According to the executive of the "Lincy" Foundation, according to the 2009 budget, 17.8 million dollars was spent.
"When the reformulated agreement came, it was stated that 17 schools had been renovated and nearly 19 million dollars had been spent. In the list, I saw a school that had not been renovated," said the MP (see the article "To write a letter to the National Hero" released by "A1+" on June 8).
As Deputy Prime Minister Armen Gevorkyan accurately explained in the a1plus article, only 10 schools were renovated under this project. Originally, Lincy had listed more schools in the MOU in order to have the flexibility of renovating additional schools in case there were any leftover funds or if Lincy decided to increase the funding for this project. These are the facts," said Harut Sassounian.
