A few days ago the cost of the “Stepanakert Elderly House Reconstruction,” an ongoing project of “Hayastan” All-Armenian Fund (HAAF), increased by 265%. This dramatic increase from about $400 thousand as of October 2011 to about $1 million as of November 2011 was accompanied by the addition of the Artsakh government as a co-sponsor of the project. Thus, the allegedly cash-strapped Artsakh government has committed to investing $600,000 to an already overvalued project.
Over a month ago I published How to Renovate Already Renovated Retirement Home, an article about the redundancy of certain aspects of that project and the cost exaggeration. I had also pinpointed the indecency of the HAAF for providing false information about the history of the retirement home. At that time they claimed the building in question had not undergone major reconstruction since 1988, whereas it is a fact that Louise Manoogian Simone funded a major makeover in 1999, costing about $400 thousand. Continue reading »





