2021 of the IFS final press conference
December 23, 2021, IFS held an annual press conference whereby compensations’ director announced that the organization was servicing 4660 beneficiaries as of the day, out of which 4243 became beneficiaries as a result of September 27 war and in the aftermaths.
Out of the 4660 beneficiaries 3986 were deceased soldiers, 98 missing in action and 576 disabled. IFS paid compensations in the amount of 53.6 billion AMD to the families of the deceased heroes and disabled soldiers.
“As of today, IFS has serviced all the cases received in full package. I find it hard to say how many compensation cases we’ll still receive. I assume the tentative numbers is 200-250 cases in connection with the 44-day war in the aftermaths”, said the director of compensations.
IFS provides 10 million lump sum compensation to the families of deceased, missing soldiers and 1st group disabled followed by monthly compensations in the amount of 200-300 thousand AMD for 20-year period. 5 million AMD lump sum compensation is paid to the 2nd group disabled soldiers followed by 100 – 200 thousand AMD for 20-year period. The difference in monthly payments has to do with the military rank of the soldier.
Sona Baghdasaryan, the fundraising and donor relations manager at IFS stressed that 2021 was an important transformational year for the Fund. Prior to 2021, all work was carried out by the Central Bank volunteers. After the war, it was no longer possible to implement IFS mission on voluntary basis. IFS formed an independent board of directors and a professional team that proudly carries out IFS mission.
Sona Baghdasaryan also mentioned that that team focused on building and raising awareness about IFS in particular outside Armenia.
“Unfortunately, this war impacted every family in Armenia and Artsakh. Each of us has someone who lost a loved one to war or got injured. The greater potion of our donations come from Armenia and Artsakh which comes to prove that local people have to lack of trust”, Sona said.
She also added that the IFS does not have much awareness in the diaspora. There are people who regularly support IFS with their donations. Despite that there is lack of awareness in the largest Armenian communities worldwide.
January 2021 special law was passed which tripled mandatory contributions we receive on monthly basis. Most of the donations come from Armenia and Artsakh. Largest donor list includes USA, Europe and Russia.
Sona Baghdasaryan also mentioned that IFS planned to implement and financial literacy project. “The aim of the project is to evaluate the financial literacy of our beneficiaries and estimate the possible lack of knowledge and try to fill in the gap. We strive to help the beneficiaries to spend the amount received from IFS in an effective and wise manner so that it generates more income for them”.