PROGRAM CLUSTERS FOR BLENDED FINANCING AT THE CORE OF THE DEVELOPMENT STRATEGY
Smart investments in certain key sectors and levers combined with investments in supporting infrastructure can unlock Armenia’s growth potential and foster inclusive, sustainable development. The combination of key sectors and geographic areas will enable to develop program clusters, achieving higher impact thanks to synergies and economies of scale.
We aim to leverage different sources of financing through a portfolio of ambitious and bold anchor projects and investment opportunities in Armenia and bring sustainable impact to the society and economy of Armenia. Each project will be designed to form a unique ecosystem of interaction or to serve as a platform for supporting various developmental initiatives. By launching a chain reaction, they will create the conditions for the emergence of new initiatives by other people and organizations, and thereby become a catalyst for development at the level of the region, the country and the nation as a whole.
The following key attributes of the cluster programs are:
- SCALE AND TYPE OF INVESTMENT: cluster programs will require large-scale capital investment with the primary purpose of creating an enabling environment for further investments.
- TIME HORIZON: anchor programs will be implemented with the 20-25-year investment horizon in mind and, in many cases, will be pioneering in nature, which, by definition, means accepting higher degree of risk due to the small market size, unproven concept, novel industry, or other.
- LOCAL RESOURCES: development and implementation of cluster programs and their anchor projects will require substantial local knowledge and presence on the ground, as well as expertise in financial structuring and project development.
- BEST PRACTICES: as the objective of anchor projects will also be to develop new standards, they will not focus on obtaining the lowest cost of but the highest quality of implementation and deliverables, which may result in higher cost in comparison to typical local projects.
The cluster programs showcased in the following pages are an aspiration and the building blocks for our development pipeline.
TATEV SOUTHERN TOURISTIC HUB
Tatev Southern Touristic Hub is a strategic program to establish Tatev as Armenia’s southern touristic hub and unlock the economic potential of Syunik Province. It aspires to transform Tatev from a daytrip single destination to a major touristic hub where people can spend two to five days discovering the entirety of southern Armenia (Goris, Sissian, Kapan, Meghri and Vayots Dzor). The Project will have a transformational effect not only on southern Armenia, but also the country’s whole tourism sector.
TATEV GATEWAY TOURISTIC INFRASTRUCTURE
will establish an unparalleled centre of popular entertainment for people of all ages, including information and exhibition center, hotels, amphitheater and festival grounds.
TATEV NATIONAL PARK
to recognize and preserve the unique biodiversity of natural ecosystems of Vorotan Gorge and neighbouring areas, as well as to protect historical and cultural sites.
REVIVAL OF THE ABANDONED MEDIEVAL VILLAGES
aims at studying local heritage, revealing the unique features of each village and turning these factors into a successful tourism product.
DILIJAN RIVERSIDE DISTRICT
The development program aims to make Dilijan an attractive, eco-friendly and comfortable place for people from all over the world to live, work, learn, visit, shop and dine. The master plan and zoning guidelines created for the district focus on pedestrian experience, historic preservation and a healthy urban lifestyle, setting the precedent and the course for the future development of the whole town. Each project is considered independently, with the aim of holistically fitting into the development vision, preserving the cultural and historic heritage of the town and transforming Dilijan into a world-class educational, cultural, tourist, health and recreation center.
HOTEL AND CONGRESS CENTRE
for leisure and corporate outings
CENTRAL PEDESTRIAN PATH
a promenade, along Aghstev riverside to comprise new areas of public realm for people to meet and socialize
RECONSTRUCTED LAKE AREA AND A CONCERT VENUE
to accommodate major local and regional events
with safe spaces for public recreation and entertainment
DILIJAN EDUCATIONAL CLUSTER
Dilijan Educational Cluster is a strategic program that will have a transformational effect on the education system in Armenia and become a regional centre for teaching excellence and educational innovation. It is an open platform for sharing expertise between all the components of the cluster, as well as a methodological centre for the design and implementation of educational innovations.
International Performing Arts Center will provide dedicated spaces for music, drama and dance to the audience of Educational Cluster, while aiming to become the leading international concert space for orchestral performance, recitals, assemblies and musicals to host regular world class cultural events and festivals in the city of Dilijan.
DILIJAN HEALTHCARE HUB
Dilijan Healthcare Hub is a strategic program to position Armenia as a regional hub for care an healthy living focusing on wellness and healthy lifestyles, longevity and anti-aging, rehabilitation and recreation.
CHILDREN HEALTH PARK
will offer a unique, holistic, family-centered care model with education, entertainment, psychology and remote support to create additional value for families
BLUE ZONE HEALTH PARK
is a disruptive model for a liveable city to challenge conventional thinking that good health can be achieved in wealthy communities alone.
ANTI-AGING WELLNESS CENTER
will be a world class medical and wellness resort based on state-ofthe-art medical technology.
INNOVATION DISTRICT OF ARMENIA
No single entity can drive innovation alone. Innovation is rather a story of cocreation, collaboration and exchange of ideas among many contributors over the years and even decades. In light of this, innovation is becoming progressively defined by spaces that allow people to come together to share ideas and work collaboratively on creative solutions to modern problems.
This understanding has led FAST to propose the development of an Innovation District: an all-encompassing sustainable environment where people live, learn, work and create.
Armenia’s Innovation District would serve as a venue for co-creation and open innovation, prototyping, regulatory and policy innovations to meet national priorities and goals, and contributing to the country’s socio-economic development.
The District’s powerhouse will be Adaptive Innovation Campus which would act as a collaboration hub where scientists, students, entrepreneurs, business professionals and investors can come together to generate new ideas for disruptive innovation, test them using advanced lab infrastructure and create products and solutions capable of commercialization.
YEREVAN DEVELOPMENT PROGRAM
Yerevan Development Program is a strategic initiative to encourage inbound tourism to Armenia by building several landmark tourist attractions in the city. It will create a new complex of touristic attractions with high quality public spaces and preserve the historic heritage of Armenia. The program aims at meeting the need for a must-see tourist route in Yerevan capable of entertaining tourists and the local population for an entire day.
a theme park with world-class attractions and redevelopment of the public part of the existing old park into high quality public space
connecting the Cascade and Victory Park with the Erebuni Museum
CASCADE AND THE OLD TOWN QUARTER
Quarter will involve the construction of art exhibitions in the top section of the Cascade complex and the establishment of an ethnic mix of traditional Armenian arts & crafts, restaurants, farmers markets, souvenir shops, and public facilities in the Old Town Quarter.
REVIVAL OF EREBUNI MUSEUM
will see the expansion of the exhibition space and preservation of Erebuni Fortress, one of the most ancient citadels in the world dating back to the 8th century B.C.