Tag Archives: LED

On 5 August a presentation on a Local Economic Development (LED) model for Spitak and its neighbouring communities took place in Spitak, Lori marz. The event was organised by the Armenian Young Women Association (AYWA) within the framework of the project called “Social and Economic Empowerment of Women in Armenia”, financed by the European Union.

The communities included in the LED were Lernantsk, Jrashen, Lernavan, Saramej, Shirakamut, Geghasar, Sarahart, Shenavan, Kharadzor, and Ghursali.

Economic development stakeholders from the communities took part in the event, including representatives from the local authorities, the private sector, and civil society. ‘We are glad that AYWA has been able to work with not one but a wider group of communities, at the same time noting the prospects for community development and cooperation between them,’ said President of AYWA Lilit Asatryan. She added that, through LED, model development involving all stakeholders would enable transfer of socio-economic knowledge, as well as would encourage and promote community participation.
Economic development directions and perspectives, competitive advantages, existing and potential economic relations, and local resource-based projects and steps were presented and discussed during the event. These will support the local economic development in the communities concerned. Results of ongoing initiatives were presented by the local team and external experts.

Small-scale local economic projects are developed as part of the project, aimed at strengthening economic growth among communities. These projects are based on the competitive advantages of individual communities. Using the LED model, educational and awareness-raising training, workshops and discussions will be conducted to foster entrepreneurship among women. Additionally, direct financial assistance coming from the EU will be provided to project beneficiaries for business projects to promote the local economy.