ArmInfo.The Government of Armenia and the World Bank (WB) have reached an agreement to finalize and clarify the components and subprojects of the WB loan program " Local Economy and Infrastructures Development ". This became known after the meeting of the Deputy Minister of Economic Development and Investments of the Republic of Armenia Avag Avanesyan with representatives of the World Bank.
According to the press service of the ministry, during the meeting, in addition to the process of implementing this program, the parties discussed in detail issues related to the restoration and creation of infrastructures to improve and increase the attractiveness of tourist facilities in Armenia and nearby territories.
To note, the " Local Economy and Infrastructures Development " program was launched in December 2015 and will be completed in April 2021. The total cost of the program is $ 68.7 million. The goal of the program is by improving infrastructures and increasing institutional capacity, expand tourism opportunities in selected regions of Armenia. The program will play a special role in building up regional tourism potential.
To recall, Armenia has been a member of the World Bank since 1992. In total, the WB provided Armenia with funds in the form of loans and grants for almost $ 2.3 billion.
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