Armenian premier chairs meeting of FREDA trustees board

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Economy

29.11.2012, 13:07

Trustees Board of Fund for Rural Economic Development in Armenia (FREDA) held a meeting chaired by the Primer-Minister Tigran Sargsyan Wednesday, press service of Armenian government reported.

Armenian premier chairs meeting of FREDA trustees board

YEREVAN, November 29. /ARKA/. Trustees Board of Fund for Rural Economic Development in Armenia (FREDA) held a meeting chaired by the Primer-Minister Tigran Sargsyan Wednesday, press service of Armenian government reported.

The fund budget for 2013, cost-estimates, payroll and annual plan were discussed at the meeting.

The Board of Trustees selected an organization to carry out independent financial audit for 2012 and discussed the 2011 audit report.

FREDA is the first investment fund established in Armenia to make investments in agrarian small and medium enterprises through innovative financial instruments and to provide management support.

Since 2009, the fund has funded nine investment projects in Armenia for a total of 1bln 650mln drams.

Priority fields for investments are wine-making, agrarian production, fishery and milk processing. ($1=405.71drams)–0--

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