Friday, May 5 2017 12:30

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.