One of the first things Nikol did when he came to power was to try to replace the Armenia Fund with the “My Step Fund”. He immediately arrested the director of the fund on charges of misappropriating $250k ($250k out of $220million).
5 years have passed and Ara still hasn’t been convicted of a crime. Then in 2020, his administration decided to transfer $105 million dollars from the Armenia fund to the government budget. This was something unprecedented. Interestingly, the members of the government and the parliament received substantial bonuses shortly after. Now with Artsakh being completely under Azeri occupation, the Armenia fund has literally lost everything that it. Has worked since the day of its inception. Everything we donated and built is gone. Literally everything. Today, the Armenia Fund has become somewhat obsolete, which is exactly what Nikol as well as Aliyev, and Erdogan always wanted. Armenia fund is partly to be blamed for this. After all, throughout the past 5 years they either promoted Nikol or stayed silent when Ara Vardanyan was spending time in prison for an allegation that was never proven, they were silent on Nikol’s organized efforts to undermine the organization. Most importantly i haven’t heard anything from the Armenia Fund in regard to how this government handled the wars and gave away every inch of Artsakh. So i think its time for us to create a new organization. With Artsakh gone, Armenia Fund has lost its meaning.