FREDA wraps up the year
The board of trustees of the Foundation for Rural and Economic Development in Armenia (FREDA) today held an ensuing session headed by Prime Minister Tigran Sargsyan.
Discussing the issues on the agenda, FREDA Director Tigran Khanikyan delivered FREDA's annual report for 2011, provided information regarding the executive of the budget and the measures taken according to the working plan. He also touched upon the programs implemented in the passing year, as well as the programs that are in the final stage and those that will be implemented in 2012.
Mentioning that the total amount of the Foundation's investment portfolio made up 1.6 billion drams in 2011, Tigran Khanikyan gave details on the investment programs in the dairy industry, the conservation of fruits and vegetables, wine production, poultry, fishing and reprocessing. He also informed that FREDA had developed an investment itinerary for companies doing agro-business and that the Foundation was currently discussing the perspectives of providing funding for new investment projects.
The board confirmed the report after an exchange of views. Prime Minister Sargsyan assigned the Foundation's director to lead negotiations with potential investors in order to procure sources for funding and expand the volume of activity.
The board also discussed and gave consent to FREDA's 2012 brief budget draft, the budget of maintenance expenditures, the staff list and the working plan for 2012.
During the discussion of another issue, the board also touched upon the nomination of FREDA as an independent audit organization for finance and economy in 2011 and decided to reaffirm the powers of Members of the Investment Committee for a year.
