Economy Minister replaces top managers of Armenia's National Interest Fund
YEREVAN, January 8. /ARKA/. The termination of powers of the CEO of the Armenian National Interest Fund (ANIF) Davit Papazyan and some members of ANIF Board of Directors is the initiative of the Ministry of Economy, ANIF said today..
By the decision of the Minister of Economy Vahan Kerobyan Dominique de Villepin, Chairman of the ANIF Board of Directors, was replaced by Ani Ispiryan.
Dominique de Villepin, former Prime Minister and Minister of Interior of France, has been a member of the ANIF Board of Directors since its establishment. He was elected chairman of the board in 2023.
Ani Ispiryan has been Deputy Minister of Economy since September 2021. before that she was an expert at the ministry.
Armenian Deputy Prime Minister Mher Grigoryan's Chief of Staff Edgar Mkrtchyan and Deputy Prime Minister Tigran Khachatryan's Chief of Staff Arman Adilkhanyan were appointed as new members of the ANIF Board of Directors.
The three new members of the Board of Directors voted in favor of early termination of the powers of David Papazyan.
Dominique de Villepin also resigned along with ANIF Board member Isidoro Luciola, who is the founding chairman of a number of international investment banks.
ANIF Investment Committee Chairman Khaled Heliooui and Investment Committee member Michael Thompson also resigned.
On November 13, 2023, Economy Minister Vahan Kerobyan terminated the powers of then Chairman of ANIF Board Tigran Avinyan after he was elected mayor of Yerevan.
According to another decision of the EconomY Ministry, the balance sheet and the financial report of the Armenian National Interests Fund (ANIF) for 2022 were not approved because "the consolidated financial statements for the reporting period do not accurately reflect the financial position of the Fund and its subsidiaries,"
ANIF was established in 2019 with a mandate to consolidate and effectively manage the ownership of Armenian state-owned enterprises, to promote export growth and investments in Armenia by providing co-financing in large-scale projects at their initial stage of development.
ANIF’s mission is to support and empower Armenia’s economic development potential.
ANIF press service reported in July that the Fund registered a net profit of AMD 1.76 billion or about $4.6 million in 2022, and during the four years of its existence implemented about a dozen joint investment projects with Armenian and foreign investors. -0-
