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Azatutyun (8 January 2024)

Dominique de Villepin, a former French prime minister, has resigned from the governing board of an underperforming state fund tasked with attracting foreign investment in Armenia following a management overhaul initiated by the country’s government.

Villepin joined the Armenian National Interests Fund (ANIF) two months after it was set up by the government in May 2019. The ANIF said at the time that the appointment is part of its efforts to bring together a “world-class Board of Directors” that will help it achieve its goals. It attracted only one more board member, Italian investment banking consultant Isidoro Lucciola, however.

The fund’s track record has also been less than impressive. It claims to have attracted only $210 million in foreign direct investment in the Armenian economy over the last four-and-a-half years.

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