I met three year-old Hayk at a festival on the road to the Tatev Monastery in Armenia.

The boys was decked out in handmade colourful wool socks, red britches, leather slippers and a pointy cap worn in olden days.

I asked Hayk what he wanted to be when he grew up. Waving his small wooden sword in the air, the boy answered he would smite Bel, Armenia’s archenemy of yore. He then pondered the question a little more and answered, “I will become a good boy.”

The fact that a bunch of his elders were lined up along the road didn’t faze Hayk in the least. His main mission was to swipe as many sweets and walnuts from the cup sitting on the table as possible. The older folk could discuss and debate issues like planting trees and talk about the much awaited multi-functional centre planned to be built in Tatev next year to their hearts content.

Two years ago, when the Tatev aerial tram was opened, there was talk about ancillary development projects planned for the village of Tatev. One of the projects involved getting local residents to turn their homes into bed and breakfast establishments for the tourists attracted to Tatev by the aerial tramway.

Even before that, Armenia’s National Competitiveness Foundation (ANCF) had come up with an idea of creating a circulating fund for Tatev residents willing and able to transform their homes into B&B’s.

The project was launched but it never really took off. A year ago, there were staff changes at the ANCF and Arman Khachatryan replaced Bekor Papazyan as director.

Khachatryan avoided commenting on other failed development projects at Tatev in the past.

In March of this year, the ANCF and the U.N. Armenia Office signed a memo of understanding regarding the development of the local community and tourist infrastructure. A three year plan has been designed for 2012-2015 with the assistance of the ANCF and participation of local residents.

The multi-functional center will house an information unit, an office and stalls selling local handicrafts and produce. The initial cost estimate for the project is around $155,000.

There are also plans in 2013-2014 to renovate a 5.5 kilometre stretch of water pipe> the job is expected to cost $237,500. The following year a garbage collection and sanitary system will be installed. That will cost around $82,500. The same year a sewage system costing some $665,000 will be built.

The bed and breakfast project, allowing for 10 private houses to be turned into tourist lodging, will start this year at a cost of $179,500. Families wishing to participate will have to present competitive bids.

30% of the investment will be supplied by the individual families and the rest by the ANCF.

Aram Khachatryan says it’s vital that local families participate directly in the project and invest their resources, thus ensuring greater overall success.

Tatev Mayor Mourad Simonyan believes the project will help spur village development.

“I believe that many who have left Tatev will want to return after the projects are completed,” Simonyan said.

Hripsimeh Manoukyan, an economist in the U.N. Development Program, said the long-term goal was to get money into the pockets of local residents. This way they’d have seed money to launch other local projects.