ArmInfo. The future activities of the Rural Economic Development Fund of Armenia (FREDA) are uncertain. This information was shared by the press service of the Ministry of Economy, which referenced the outcomes of the Fund's Board of Trustees' meeting chaired by Armenia's Minister of Economy Gevorg Papoyan.
During the meeting, financial statements and audit reports prepared by an independent audit organization on the financial and economic activities of the Fund for 2022 and 2023 were presented.
As a result, a decision was made to conduct an assessment of FREDA's assets by an independent body. Based on the results of this assessment, the issue of its further activities will be decided. Additionally, the Council decided to extend the powers of the members of the Investment Committee of the Fund until a decision is made on the advisability of its further activities.
It should be noted that the Fund was established in 2009. The main objective of FREDA is to reduce poverty in the country through the development of rural areas in Armenia. The main governing body of FREDA is the Board of Trustees, headed by the Minister of Economy. The investment decisions of the Fund are made by the Investment Committee.
