On 21th June 2016 the Prime Minister Hovik Abrahamyan chaired a meeting of the Rural Economic Development Fund Board of Trustees (FREDA) was held in the Office of Government. The Board first approved the candidacy of Minister of Economy of Armenia Artsvik Minasyan and newly appointed Executive Director of the Fund of National Center for Development of Small and Medium Enterprises of Armenia Levon Mnatsakanyan as members of the Board of Trustees. The Board also approved the proposed changes and additions to the charter of the Fund.

The meeting approved the financial reports submitted by an independent auditor concerning the financial and economic activity of the Fund in 2015, the independent auditor’s report and the conclusion of the project report, published by the FREDA and submitted to the Ministry of Justice of Armenia. In conclusion, the Board of Trustees discussed and approved the final version of the investment guidelines of the FREDA.