Hayastan All-Armenian Fund transfers 52.7 billion drams to Armenian government

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YEREVAN, November 25. /ARKA/. The Hayastan All-Armenian Fund has transferred about 52.7 billion drams to the Treasury’s corresponding account from the Fund’s “We Are Our Borders” global fundraising budget, Armenian Ministry of Finance said.

It said the mentioned amount is aimed at only financing infrastructure, social and health costs conditioned by the circumstances of the declared martial law.

It said that the money transfer was made based on donation agreements concluded between the government of Armenia and the Fund and it was fully credited to the single treasury account.

“Moreover, the financing of the mentioned costs from the raised donations has enabled the government to direct its financial means intended for those expenses by the 2020 State Budget to the other urgent expenses conditioned by martial law, which, as of November 19, amounted to almost 101 billion drams,” stressed in the ministry.

The ministry said also that reports on the money’s r use will be published as part of the budget execution report.

The Ministry of Finance emphasized that given the fact that the use of the donation amount specified in the donation agreements fully complies with the objectives of the Fund’s activities enshrined in its charter, and the move was approved by the Fund’s Board of Trustees, arguments that the transfer to the treasury is illegal are unfounded.

Earlier, the Board of Trustees of the Hayastan All-Armenian Fund made a decision to provide part of the donation raised within the framework of the campaign “We are our borders” to the government in order to combine the implementation of identical social, health, infrastructure and other projects.

Earlier, the government said under two of its decisions, about 20 billion drams are planned to be paid to the displaced population of more than 100 communities of Artsakh’s Kashatagh, Martakert, Shahumyan, Hadrut, Shushi, Askeran and Martuni regions – 300,000 drams to each person and 68,000 drams and more to around 100.000 Artsakh residents.

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