ArmInfo. Armenian Development Fund of Armenia , established by Armenian Government in 2015 for improvement of Armenian economic growth, most probably will be closed. This was shared to ArmInfo by the sources in the entity.
According to the information, due to low efficiency and large costing of resources, the Government of Armenia considers the Fund operation as counterproductive. Due to this reason, the Development Fund of Armenia most probably will be closed. "At the same time, the option of the Fund reorganization through its merge with Strategic Initiatives Center is also under consideration," the source stated.
To mention, recently on April 27, during the Government session Armenia prime Minister mentioned that the duplication of functions should be cancelled in state authorities framework. " We have many duplicating structures that should be cancelled, including costs, number of vehicles, other expenditures," Karapetyan stated addressing to ministers.
Besides, on December 8, 2016 Armenian Government approved the main provisions of the Project entitled as "Armenian Jurisdiction", and encouraged setting the Fund with the same title, which activities will be aimed at the improvement of investment attractiveness of the country. On January 12, 2017, the official opening ceremony took place in respect to Strategic Initiatives Center under the Government of the Republic of Armenia, which is aimed at Armenian economy long term strategy development.