The Fund for Rural Economic Development in Armenia (FREDA) was established on January 8, 2009 in the framework of the “Rural finance” component of the “Farmer Market Access Program in Armenia”, which is a joint activity between the Government of Armenia and the International Fund for Agricultural Development (IFAD). The Fund carries its operations since September 1, 2009. FREDA is the first investment fund in Armenia with a rural focus that makes investments in rural SMEs by providing innovative financing instruments and capital and management assistance, thus enabling the enterprises to improve their competitive position and thus contribute to accelerate rural development. FREDA’s overall objective is as to alleviate poverty through the economic development of rural areas in Armenia. FREDA is governed by the Board of Trustees headed by the Prime Minister of the Republic of Armenia. FREDA’s investment decisions are approved by the Investment Committee, which is a collegial body operating under the Board of Trustees.