YEREVAN, March 16. / ARKA / The Board of Trustees of the Hayastan All-Armenian Fund said on March 15 that it will commission an international audit firm to investigate the use of the donations raised during the war in Nagorno-Karabakh.
‘The Board of Trustees of the Hayastan All -Armenian Fund met on March 15th 2021. The meeting was held in a constructive spirit and the Board is confident that the funds raised during the war were not misused. A decision was made to form a working group, consisting of Board Members, to work with the international audit firm and other parties to account for the use of the funds raised during the war. The Board agreed to further review the work to remove all doubts and maintain the public’s confidence. The entire Board profoundly thanks all donors and supporters once again for their generous contributions and continued support and dedication to Armenia and Artsakh,’ the Board of Trustees said in a statement.
Earlier, some posts in social networks claimed that about $8 million of donations collected by the Hayastan Fund during the war in Artsakh in September-November 2020 were illegally withdrawn and cashed by a group of officials and persons close to the current authorities of Armenia.
The Hayastan All-Armenian Fund launched an international fundraising campaign immediately after the outbreak of the war on September 27 raising some $170 million within weeks. On November 24, it emerged that the Hayastan Fund redirected about 52.7 million drams (about $102 million) to the state treasury account on condition that these funds be used to finance infrastructure, social and health expenses caused by the martial law.
The news caused a public outcry. Minister of Finance Atom Janjughazyan responded by saying there were no legal violations of the Fund’s activities, especially taking into account that donations to the state budget were authorized by the majority of the Board of Trustees members.
The Hayastan All-Armenian Fund founded in 1992 by a presidential decree has implemented $400 million worth of various infrastructure projects in Karabakh and Armenia since its establishment. -0-