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Hayastan All Armenian Fund's interim director vows greater projects, reforms

Interim director of Hayastan All Armenian Fund Bedros Terzian has addressed the fund’s donors, assuring that Hayastan continues normal functioning and that nearly 60 projects are underway.

Hayastan All Armenian Fund's interim director vows greater projects, reforms

Hayastan All Armenian Fund's interim director vows greater projects, reforms

STEPANAKERT, JULY 26, ARTSAKHPRESS-ARMENPRESS: Terzian was named as a replacement for Ara Vardanyan, the former director who stepped down following a scandal uncovered by law enforcement agencies involving the latter’s unauthrozied use of the fund’s bank account for personal purposes.

In his statement, Terzian said he has first of all looked into the bookkeeping documents of the fund.

“As a result of discussions it turned out that the funds which have been used through the credit line by the former director for personal goals were returned in brief periods of time, thus going unnoticed by auditors. Nevertheless, vulnerabilities emerged in the supervision system of the fund’s accounts. Therefore I have demanded to immediately launch additional control and alert measures to eradicate these vulnerabilities,” he said, adding that they will soon discuss candidacies for director in September.

“Dear donors, during the past 26 years the Hayastan All Armenian Fund operated with transparency and accountability, in accordance to international standards. Projects of enormous scales have been implemented.

The fund continues its mission today also. Nearly 60 projects are underway. Armenia and Artsakh need this pan-national institution.

I am convinced that the fund will overcome this moment of distress with the support of its donors, will take necessary innovative measures and reforms and will be able to undertake greater and more important projects for the populations of Armenia and Artsakh,” Terzian said.


     

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