Armenian Fund for Rural Economic Development sumed up 2011 activities.

Armenian PM Tigran Sargsyan chaired, on Tuesday, regular session of the Fund for Rural Economic Development in Armenia (FREDA) Board of Trustees, during which FREDA Director Tigran Khanikyan presented the Fund’s annual activity report.  

Noting that the general volume of FREDA’s 2011 investment portfolio totaled 1.6 billion drams (approx. US$ 4,198,235), Khanikyan specified the conducted investment programs. He also informed that investment guidelines were developed for agricultural business enterprises, and that the Fund is currently discussing the prospects for funding new investment programs. 

The Board subsequently approved the aforesaid report, and PM Sargsyan instructed FREDA Director to hold talks with potential investors. 

Afterward, the session participants approved the Fund’s 2012 brief draft budget and its 2012 activity plan.

The attendees also reaffirmed, for one year, the powers of FREDA Investment Committee members, Government Press Service informed.