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Former Director of Armenia’s National Security Service (NSS), Major-General Artur Vanetsyan has established the Homeland Development Fund and has announced plans to enter the political arena by creating a new party.

“I have met with our compatriots in the Diaspora to discuss the financing of the fund and to brief them on the fund's goals. I have received assurances from them that they will provide some financial support to us. At the moment I don't want to disclose their names,” Vanetsyan told editors of print press on Wednesday. 

The former NSS chief said the funds will exclusively be directed to the formation of the national agenda.

He stated the Homeland Development Fund is not engaged in charity work, but deals with the settlement of specific issues. Vanetsyan noted transparency is a key priority for the fund.

Vanetsyan stated the party he is going to create is expected to unite the parts of society that disapprove the current government's actions. He said he is well aware of the society’s concerns which, according to him, are widespread and relevant.

“I believe there is a necessity today to form a political force which will consolidate the broad masses of the society who are discontent with the incumbent authorities’ workstyle as they have failed to meet their expectations. They are people who do not want a return to the past,” Vanetsyan stressed.