OREANDA-NEWS. November 29, 2007. Executive Director of the Fund Ashot Kirakosyan reported back the main results of Fund activity for the third quarter of 2007 and for the first 9 months of this year. He noted that the third program of the Fund started at the end of December, 2006. Certain procedural changes had been made in the infrastructural component of this program, aiming the increase of the role of regional administrations. In particular, the list of applicant communities will be defined on the basis of the long-term development plan and the profiling and mapping of marz communities. As assured by the speaker, the process of program implementation has been amended and is now far more effective. Thanks to another improvement operated in the program, socially-oriented programs will be carried out in close cooperation with the RA Ministry of Employment and Social Affaires.

It was noted that as of today, communities from 7 marzes have submitted 174 programs to the Fund (including 49 - from Yerevan). Program examination is complete for Ararat, Lori, Syunik and Gegharkunik marzes, where design work and the process of competitive selection of building organizations is underway at this point of time. Civil works have started in more than 60 communities. Community meetings are being held and design work will soon start in Vajots Dzor, Armavir and Shirak marzes.

The Executive Director of the Fund informed that activities in the city of Yerevan are carried out on a district basis, in parallel with the marzes. Out of the 49 programs submitted from Yerevan, 44 relate to schools, with 26 of them regarding the heating system. Construction work is underway under 22 programs of Arabkir, Center, Nor-Nork communities. The process of selection of contractors is underway in Achapniak and Nubarashen communities with stimulation activities having already started in Kanaker-Zeitun and Nork-Marash communities of Yerevan.

According to the report, 15 building contracts to a total sum of AMD 642 million were concluded in the quarter under review. As of today, 70 building contracts to a total sum of AMD 3,583 million have been made. During the quarter civil work was completed under 6 programs. As a whole, civil work is complete under 18 programs of the Fund. Their total cost is AMD 918 million, the number of beneficiaries – 85.000, the average per capita benefit -11.000 drams. 12 out of the completed programs relate to schools.

Within the framework of the third program of the Fund, the required size of community investment for a program is 10 %, with 7 % in average. In the quarter under review, investments to a total sum of about 74 million drams were received from communities under 29 programs. As of today, monetary investments constitute over 365 million drams for a total of 76 Fund-implemented programs. The US-based "Vardanants Aspetner" and the AGBU are the key sponsors of communities in investment questions.

Under the third program of the Fund, furnishings are delivered to the schools of the Republic. Schools are selected according to the applications received from marzes within the limit of the sums allocated to the given marz. According to the executive director, the Fund has concluded 24 contracts on delivery of school furnishings to a total sum of about 1, 269 million drams. Delivery of stock under these contracts is complete, with 36.835 units of school furniture supplied, including 24.275 double-desks, 150 single desks, 4.570 desks for teachers, 3.575 cases, 4.265 blackboards made available to 747 schools of the Republic. The Prime Minister has strictly ordered to refrain from raising funds from pupils and their parents for realization of school programs as he had heard certain complaints during one of his visits to the regions. He instructed the management of the Fund to notify thereof the population of the communities, including through mass media and during the meetings held on the spot.

In conclusion, it was reported that as of the end of the quarter, the general annual plan is executed by 161 %, with civil work having been completed by 103 %.

The Council approved the report submitted by the Executive Director of the Fund.