16th Meeting of Armenia Fund Board of Trustees Convenes in Yerevan

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The 16th Meeting of Armenia Fund Board of Trustees Convenes in Yerevan

NEW YORK, New York – Armenia Fund is pleased to announce that the 16th
meeting of Armenia Fund Board of Trustees convened in Yerevan on June 19,
2007. Chaired by President Robert Kocharian, the meeting opened with the
spirit of the Fund’s 15th anniversary and an acknowledgement of the
importance of the organization in carrying out nation-building tasks since
the birth of the independent Armenian Republic. `Armenia Fund is a most
important institution uniting Armenians in the homeland and in the Diaspora,
and has brought together the efforts of all the segments of our people
vis-à-vis pan-national tasks and goals for one-and-a-half decades now. For
this, I congratulate the Fund on its 15th Anniversary’, President Kocharian
addressed the audience.

Led by the prayers of His Holiness Karekin II, Catholicos of All-Armenians,
the session began with a review of the completed projects for the past year
and approved the undertakings of the coming year. An end-of-the-year
statement of the Fund’s activities was introduced with its various programs
and results. Rebirth of Artsakh Regional Development Program was assessed as
contributing significantly to the economic upsurge of Nagorno-Karabakh and
the well-being of its people.

As a natural development of the Fund’s mandate, Armenia Fund affiliates
adopted the Rural Development Program to extend the comprehensive
infrastructure and economic development to Armenia’s villages.
Foreign Minister Vartan Oskanian, member of the Board of Trustees, presented
to the representatives of all affiliates of the Fund with an overview of the
Rural Development Program – its mission, objectives and approaches in
partnership with individuals, Diaspora organizations, local Armenian NGOs,
international organizations, as well as individual countries. An agreement
was reached by all the affiliates to continue the regional development
program already in place in the Mardakert and Hadrut regions of Karabakh and
to expand it into Martuni. At the same time, Rural Development Program will
begin with a cluster of villages in Tavush region of Armenia. Minister
Oskanian, later appointed to be the coordinator of the Rural Development
Program by the Board, noted that this program will complement the Armenian
Government’s efforts in this area. There are already several dozen
individuals and organizations ready to sponsor specific infrastructure and
economic needs of each village. The leadership of the Fund acknowledged that
this is a complex program with noble goals, and joining efforts is a
prerequisite for success.

The Board of Trustees’ of Armenia Fund approved Vahe Aghabekiants as
Executive Director of the Fund. Mr. Aghabekiants succeeded Ms. Naira
Mekloumian who had served for nearly four years in the position leading the
organization into one of its most significant phases and having had great
input in its growth.

Mr. Aghabekiants, an engineer by training, has served as advisor to Foreign
Minister Oskanian since 1999. In the last 18 months, he has worked
specifically on the conceptualization and planning of the Rural Development
Program. Born in Tehran, Mr. Aghabekiants was educated in the U.S. where he
established several successful businesses in the IT sector serving Fortune
500 companies. `I believe in the mission of Armenia Fund. This is the unique
institution that can make it possible for Armenians around the world to
contribute to Armenia’s development. I am one of those lucky Diasporans that
dreamed about an independent Armenia, and today have the opportunity to help
turn that Armenia into the land of our dreams’, he says.
The affiliates of Armenia Fund also discussed the preparatory works for the
Annual Armenia Fund Telethon to be held on Thanksgiving Day, November 22,
2007. The Telethon will feature the 15th Anniversary of Armenia Fund
presenting the organization’s successes in changing countless lives in
Armenia and Karabakh.

An important highlight of the Trustees’ meeting was a reward ceremony during
which several individuals were awarded with Anania Shirakatsi medals for
their devotion, leadership and valuable service to the Fund. Kevork Toroyan
was among the awardees, and was handed the medal by President Kocharian..
Mr. Toroyan chaired Armenia Fund USA’s Board of Directors for several years,
and has been closely involved with the planning and implementation of the
Agricultural Initiative, the economic underpinning of Regional Development
Program in Nagorno-Karabakh. The Initiative proved successful in creating
jobs and raising family income of small farming communities in more than 21
villages in Karabakh.

Raffi Festekjian succeeded Mr. Toroyan as chairman of Armenia Fund USA in
January, 2007. Mr. Festekjian headed the Fund’s participation to the 16th
meeting of the Board of Trustees. `We have had a very productive exchange of
ideas and opportunities. Armenia Fund is given a strategic task –
revitalization of Armenia’s villages. Today, we can build on our 15-year
experience of nation-building and make rural areas a great place to live and
raise a family. The Rural Development Program is a complex initiative, but
together we can meet these challenges. I call upon the Diaspora, supporters
and friends of Armenia Fund to join efforts and help us develop rural
Armenia one village at a time, and assist in creating the `Armenian Dream’.
Our vision is for Armenia to become an economically independent and
competitive nation where its citizens’ aspirations can be fulfilled and
dreams realized’, said Mr. Festekjian after the meeting.

The Armenia Fund Trustees’ meeting closed with an agenda full of new
undertakings and collaborations. The annual meeting elected National
Assembly President Tigran Torosyan and Prime Minister Serge Sargsian ex
officio members of the Board of Trustees.

The year 2007 marks the 15th Anniversary of Armenia Fund – a pillar
organization created after Armenia’s independence and mandated with the
vital task of uniting all Armenians around the world to direct efforts
toward development and revival of the nation. For 15 years the Fund, with
its 20 affiliates across the globe, has touched countless lives in Armenia
and Karabakh. Combining aid, development and direct investment, Armenia Fund
has engaged Armenia’s leaders, its people and the worldwide Diaspora to
promote education, create jobs, improve public health and develop
infrastructure, among other critical humanitarian needs. Today, Armenia
Fund’s contributions to social and economic prosperity of Armenia and
Karabakh are unprecedented.
The 15th Anniversary of Armenia Fund is a celebration of the past, present
and future of the Armenian people. It is a celebration of overcoming
challenges by working together. Above all, it is a celebration of humanity,
courage and hope.

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