Focus Areas

Socio-economic development

Poverty in Armenia

According to 2018 data released by the country’s Statistical Committee, 23.5% of Armenia’s population (700,000 people or one in four people) was living below the poverty line.

According to the methodology of the National Statistical Service, poverty in Armenia is determined by consumption (expense) rather than income level. The poverty level is presented by three levels:

Of the 23.5% living below the poverty line, 12.9% were classified as “poor”, 9.6% as “very poor”, and 1% as “extremely poor”.

Armenian poverty rates by region (Provinces below the average country-wide rate of 23.5%):

Armenian poverty rates by region (Provinces above the average country-wide rate of 23.5%):

Socio-Economic Development in Armenia

Armenia: The socio-economic development in Armenia will focus on the two most economically deprived regions in Armenia; Shirak and Lori provinces. The focus in these regions will be on development / renovation of community facilities, improvement of education and on sustainability. The Foundation will initially focus on two areas within the two provinces.

Focus Areas – Shirak and Lori

Shirak Province

In the Shirak province, the foundation will focus on the development of Gyumri, the second largest city in Armenia. Historically the cultural capital of Armenia and the region most associated with the historical Western Armenian lands in what is now Turkey, Gyumri was heavily destroyed after the 1988 Spitak earthquake. The city and the region in general has had the highest percentage of people living in poverty in Armenia and has only recently started recovering from the devastating earthquake. The foundation will focus on the development of the city through the development of education in the city and the restoration of its cultural importance to the country. The aim is to establish a strong second city in Armenia necessary to take some of the load off Yerevan both in terms of jobs but also in terms of innovation and entrepreneurship. This is crucial for the country and we at the foundation aim to do our part.

We are currently working on aligning with a partner and plan to share more details in the near future.

Lori Province

Lori is an area of immense natural beauty and unlike its much more well established neighbour, Dilijan in the Tavush region, it is still underappreciated and has only recently started getting some traction. In Lori, the focus will be on the development of the villages on the Vanadzor Tbilisi highway by:

More information to follow soon.

Note: The focus is on the development of Armenia given that Cyprus is an economically developed country with an already successful economy.