Armenian FREDA’s investment portfolio exceeds 1 bln drams

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Economy

04.03.2014, 11:31

Total amount of investments of the Fund for Rural Economic Development in Armenia (FREDA) in some 12 companies is 2 billion 92 million drams, Armenia’s government press office reported after a trustees’ board meeting presided over by Armenia’s premier Tigran Sargsyan.

Armenian FREDA’s investment portfolio exceeds 1 bln drams

YEREVAN, March 4. /ARKA/. Total amount of investments of the Fund for Rural Economic Development in Armenia (FREDA) in some 12 companies is 2 billion 92 million drams, Armenia’s government press office reported after a trustees’ board meeting presided over by Armenia’s premier Tigran Sargsyan.

The fund’s draft budget for 2014, preliminary cost-estimate on maintenance and an action plan for 2014 were discussed and approved at the meeting.

The meeting participants talked also about expected financial audit for 2013 and the premier instructed to hold a tender for selecting a company to carry out the audit.

FREDA was founded on January 8 2009 as part of a program on market capacities of farmers launched by the International Fund for Agricultural Development (IFAD). FREDA’s main objective is to reduce poverty through development of rural areas. ($1=413.60drams). -0-

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