Press Release
Catholicosate of Cilicia
Communication and Information Department
Contact: V.Rev.Fr.Krikor Chiftjian, Communications Officer
Tel: (04) 410001, 410003
Fax: (04) 419724
E-mail: cathcil@cathcil.org
Web:

PO Box 70 317
Antelias-Lebanon

Armenian version:

ESTAB LISHMENT OF THE "KHATCHIG BABIKIAN FUND" IN ANTELIAS

A new Fund under the name "Khatchig Babikian Fund" has been founded
in the Catholicosate of Cilicia. The first steps of this Fund’s
establishment had been taken five years ago by Minister, Member of
Parliament and chairman of the Catholicosate’s Central Council, the
late Mr. Khathcig Babikian, esq., who had at the time consulted with
His Holiness Aram I on the matter.

The initial agreement was that the Fund will function under the
leadership of the Catholicosate of Cilicia and in coordination with
the Babikian family through a joint committee.

However, the different approaches and visions the Babikian family
had towards the Fund led the creation of two separate Funds under the
same name and the division of the Funds capital equally, between the
Catholicosate of Cilicia and the Babikian family. This decision was
taken with the clear understanding that the major goals and priorities
established by late Khatchig Babikian and conveyed to His Holiness
in written will be fully respected and implemented.

Most of the lands inherited from Mr. Babikian to the Fund have already
been sold. The sum of U.S. $ 4.500.000, which constitutes the half of
the amount generated from the income of this sale, has been stored in
a Swiss bank under the supervision of the Catholicosate of Cilicia. A
small number of lands remain to be sold.

The Fund’s capital will not be touched. The interests will be used
for the educational, cultural and humanitarian needs of the Armenian
Community of Lebanon. A special committee headed by His Holiness Aram
I will oversee the Fund’s management. The committee’s members are:
Andre Tabourian, Vosgeperan Arzoumanian and Yervant Pamboukian.

The Fund will soon announce its grants for the year 2006.

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The Armenian Catholicosate of Cilicia is one of the two Catholicosates
of the Armenian Orthodox Church. For detailed information about the
history and mission of the Cilician Catholicosate, you may refer
to the web page of the Catholicosate, The
Cilician Catholicosate, the administrative center of the church is
located in Antelias, Lebanon.