The Government of Armenia has allocated 2.1 billion drams (over $5 million) for the establishment of the "Academic Town". This was announced at an off-site meeting of the public council under the Minister of education, science, culture, and sports of Armenia at the Youth Center in Dilijan.
It is reported that approximately 1.1 billion drams (over $2.5 million) will be directed towards expanding the circle of beneficiaries and capital investments.
BMG reported that Armenia plans to build the "Academic Town" with an investment of $1 billion.
Earlier, the Government of Armenia approved the idea of creating an Academic Town, which is intended to be developed as a center of education and science to stimulate innovation and development. The town will unite 16 educational institutions - 8 state and the same number of private or international ones. It will be organized into 4 clusters: arts, education, technology, and defense.
It will be located not far from Yerevan and will be connected to it by a railway. Inside the town, transportation is planned to be by bicycles and electric transport. It is planned that about 44,000 people will live and work here.
One of the key goals of creating the Academic Town is to ensure that at least four Armenian universities enter the global top 500.
In 2018, funding for scientific research amounted to 14.3 billion drams (about $35 million), and in 2024 - already 40.2 billion drams (about $100 million), which is almost three times more. Along with this, the salaries of scientific workers have also increased.
