By Anna Saghabalian
The All-Armenian Fund Hayastan hopes to complete the ongoing construction of a strategic highway in Nagorno-Karabakh, its single largest project yet, within the next two years, executive director Vahan Ter-Ghevondian said on Wednesday.
The 160-kilometer road passing through rugged terrain is meant to link northern and southern parts of Karabakh. Work on the $25 million project began last year, with 30 kilometers already built.
Ghevondian told reporters that the fund has raised $2 million this year and needs another $17 million to complete the project. He said the collected funds will enable Hayastan to build a new ten-kilometer stretch of what the Karabakh and Armenian authorities call a strategic road.
Ghevondian said the fund has decided against holding this year an annual telethon in Los Angeles, its crucial source of revenue, because of the September 11 terrorist attacks in the United States. He added that the worsened outlook for the US economy has already kept some Armenian-American donors from taking part in Hayastan’s fund-raising activities.
Founded in 1992 by then president Levon Ter-Petrossian, the charity has spent more than $70 million on various infrastructure projects in Armenia and Karabakh.
The All-Armenian Fund Hayastan hopes to complete the ongoing construction of a strategic highway in Nagorno-Karabakh, its single largest project yet, within the next two years, executive director Vahan Ter-Ghevondian said on Wednesday.
The 160-kilometer road passing through rugged terrain is meant to link northern and southern parts of Karabakh. Work on the $25 million project began last year, with 30 kilometers already built.
Ghevondian told reporters that the fund has raised $2 million this year and needs another $17 million to complete the project. He said the collected funds will enable Hayastan to build a new ten-kilometer stretch of what the Karabakh and Armenian authorities call a strategic road.
Ghevondian said the fund has decided against holding this year an annual telethon in Los Angeles, its crucial source of revenue, because of the September 11 terrorist attacks in the United States. He added that the worsened outlook for the US economy has already kept some Armenian-American donors from taking part in Hayastan’s fund-raising activities.
Founded in 1992 by then president Levon Ter-Petrossian, the charity has spent more than $70 million on various infrastructure projects in Armenia and Karabakh.