The Hayastan All-Armenian Fund reports that no credible evidence exists that funds raised as part of the “We Are Our Borders” global fundraising campaign were misappropriated.

The Fund launched the campaign when the war in Karabakh broke out in late September 2020. By the end of the war, the Fund had raised some US$170 million.

In October 2020, the Fund's Board of Trustees decided to transfer some 60 % of the money raised (about $105 million) to the Armenian government.

Immediately thereafter, questions were raised in Armenia and outside the country what the money was spent on and why the Fund decided to hand over the funds to the Armenian government.  

In an interview with Hetq on November 19, 2020, Fund Director Haykak Arshamyan said that none of the money transferred to the government had been used to pay salary or bonuses, and that it went towards the refugee problem and healthcare.

The Fund’s Board of Trustees says a working group it set up to investigate the matter, as well as a private auditor and Armenia’s Ministry of Finance, found no evidence that the money was used on other than humanitarian and infrastructure needs.

Armenian PM Nikol Pashinyan, this past September, claimed that all monies raised by the Fund were spent on humanitarian aid. On week later, Diaspora Commissioner Zareh Sinanian confessed that some funds were diverted to the war effort.