The Ministry of Urban Development and Housing has initiated a probe into irregularities surrounding the Sevana Fund, a program originally designed to support housing projects for low-income earners and the homeless.
Established in the 1980s, the fund aimed to provide financial assistance for housing construction. However, an audit revealed that between 2017 and 2019, significant portions of the fund were redirected to activities unrelated to its primary purpose. Among the discrepancies identified were expenditures on constructing health centers and stupas.
The Ministry condemned the misuse of funds, emphasizing that the Sevana Fund was specifically created to address homelessness. A spokesperson confirmed that a comprehensive investigation is underway, with strict measures planned against those found responsible for the mismanagement.
This move signals the government’s commitment to ensuring transparency and accountability in public welfare initiatives.
