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In 2006 Armenia Will Spend $60 Millions In The Framework Of Lincy Fund

Regnum, Russia
Jan 13 2006

In the next one-two months, Armenia will start tenders on the
construction and other works in the framework of second Linsy
Foundation program. In an interview to a REGNUM correspondent
Armenian presidential chief of staff Artashes Tumanyan noted that
second agreement between Armenian government and Linsy Foundation
presumes $60 million of investment in the Armenian economy.

Tumanyan noted, that second program of Linsy charity Foundation
presumes three major directions of activities - road construction,
improvement of Yerevan and school repairs. $20 million will be
dedicated to each objective.

In the framework of the program, besides numerous road repairs and
construction, 18 schools will be repaired, including 13 in Yerevan.

New heating systems will be installed, gyms will be provided with
necessary facilities, seismic safety will be increased.

Tumanyan reminded that agreement with Linsy Foundation is ratified
by the Armenian parliament, and has a status of an international
agreement. Two offices have been created to implement Linsy Foundation
programs. After the tender, construction will start and in September
2006 second stage of Lindsy Foundation program will take place
in Armenia.

Linsy Foundation is led by native Armenian, American businessman
Kirk Kirkoryan. During the last years the foundation has granted $165
million to the Armenian government, that helped overcome the results of
earthquake in Spitak, repair most of republican theaters and museums,
improve infrastructure.

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