Vaahujan Avetikyan Resigns as Director of the Soldiers' Insurance Fund

Vaahujan Avetikyan, the director of the Soldiers' Insurance Fund, has announced his resignation.

"It is time for me to resign from my duties as the director of the Soldiers' Insurance Fund. This decision, which I have thoroughly discussed with the newly appointed board of the Fund, is due to the fact that the Fund is facing entirely new challenges, and it needs to be led by a full-time director rather than one who works on a voluntary basis. The Fund was established in 2017 under the Central Bank's auspices. Until recently, it was primarily the voluntary staff from the Central Bank that selflessly served the Fund, and the organization ensured that its functions were carried out appropriately and in line with the demands of the times. The recent war and its consequences have unfortunately changed much. It is time for the Fund to undergo a transformation phase. We are now on that path.

In particular, in recent months, with the funding from the Central Bank, we have formed a dedicated and professional staff that operates with the awareness that its work is vital for families who have lost a father, son, or husband, or for soldiers who have sustained disabilities. Over the past months, with financial support from the Central Bank, we have invested and continue to invest in the Fund's infrastructure, as well as in program and IT systems, to ensure that they serve our beneficiaries appropriately and smoothly under any circumstances.

I would also like to announce that after the recent war unleashed by the enemy, the Fund is currently making compensations to:

• 1939 families of deceased soldiers,
• 265 soldiers who suffered severe injuries,
• 1055 families of missing soldiers.

Since the last war, the Fund has been able to raise over 8 billion drams in donations from our compatriots and organizations from more than 40 countries.

Reflecting on the past and having led the Fund for four years while facing the challenges, I realize that I have learned something new every day and have sought to pass on my skills to the Fund's volunteers, employees, friends, partners, and stakeholders. I am confident that the accumulated experience and knowledge will serve the Fund's challenges tirelessly.

In the coming days, we will announce a competition for the position of the new executive director of the Fund and invite our experienced compatriots to participate in this competition. The Fund's board will carefully review the submitted applications, and I am confident that a worthy and proper choice will be made.

Until the new director is elected, I will continue to fulfill my duties and afterwards will serve the Fund in another capacity. Until then, I would like to thank all our volunteers, employees, friends, partners, sponsors, and supporters who have wholeheartedly supported the Fund and me in serving the homeland and the armed forces of Armenia," Avetikyan stated.