Armenian Government Allocates Nearly $500K in Public Funds for Festival at Lake Sevan

The Armenian government has approved nearly 179 million drams (about $486,000) from the state budget to finance Varchafest 2026, a youth music festival planned for the shores of Lake Sevan.

The funding decision was adopted during the Cabinet's July 30 meeting. The money will come from the government's reserve fund and will be used to organize and stage the festival.

According to official documents, the Ministry of Education, Science, Culture and Sports invited five companies to submit proposals for the project. Only two bids were received. The contract was awarded to Gravity Production LLC.

Corporate records show Gravity Production was founded in November 2019 and is solely owned by Armenian film director Aramayis Hayrapetyan. Since entering the public procurement system, the company has secured a number of government contracts.

Procurement data published on Armenia's Armeps electronic procurement platform indicates that 12 of the company's 13 registered state contracts were awarded by Armenia's Public Television through a single-source procurement process.

The government says Varchafest 2026 is intended to provide a platform for emerging music groups, encourage original live performances, and help attract more visitors to the Lake Sevan region, one of Armenia's most popular tourist destinations during the summer season.

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