A loss-making power distribution company that has sought and achieved an increase in socially sensitive electricity prices thus sparking large-scale street protests in Armenia appears to have made lavish donations to private foundations, including those set up by Armenia's senior officials.
It has emerged lately that over the past several years Russian Inter RAO's Armenian subsidiary, Electric Networks of Armenia (ENA), has donated more than $10 million to an education promoting fund set up and managed by incumbent President Serzh Sarkisian and former Prime Minister Tigran Sarkisian.
Meanwhile, in the period of 2010-2014, the ENA reported losses amounting to more than $33.5 million.
Armenian News
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