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Foundation Of Economic Development Of Rural Areas In Armenia To Be E

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  • Foundation Of Economic Development Of Rural Areas In Armenia To Be E

    FOUNDATION OF ECONOMIC DEVELOPMENT OF RURAL AREAS IN ARMENIA TO BE ESTABLISHED

    Noyan Tapan
    http://www.nt.am?shownews=1011104
    Jan 8, 2008

    YEREVAN, JANUARY 8, NOYAN TAPAN. During the January 8 sitting,
    the Armenian government made a decision to establish the Foundation
    of Economic Development of Rural Areas in Armenia and approved its
    regulations.

    The purpose of the newly-created foundation is poverty reduction
    through economic development of Armenian rural areas. The powers of a
    state government body to act on behalf of the foundation were reserved
    for the RA Ministry of Agriculture. The minister of finance and the
    minister of agriculture were instructed to allocate, after the state
    registration of the foundation, funds (243,874.4 thousand drams) of
    the Market Opportunities to Farmers program being implemented with
    the IFAD's assistance under the RA Law on the 2008 State Budget of
    the Republic of Armenia. This sum will be allocated on behalf of the
    Armenian government as a voluntary property payment for establishing
    the foundation. The ministers were also instructed to sign with the
    foundation an agreement on subsidizing envisaged by the financing
    agreeement.

    According to the RA Government Information and PR Department,
    the minister of agriculture received instructions to present the
    composition of the foundation's board of trustees to the Armenian
    prime minister within 10 days.
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