Friday, October 18 2019 12:04
Naira Badalian

The Tourism Committee and the Regional Development Fund presented the  implementation of the WB program "Development of the local economy  and infrastructures"

The Tourism Committee and the Regional Development Fund presented the  implementation of the WB program "Development of the local economy  and infrastructures"

ArmInfo. On October 17, chaired by Deputy Prime Minister Tigran Avinyan, a discussion was held on the program "Development of the local economy and infrastructures", financed by the World Bank (WB).

According to the Deputy Prime Minister's office, during the  discussion, the Tourism Committee of the Ministry of Economy and the  Regional Development Fund presented the progress of the program.   Issues related to the improvement of the Garni tourist zone, the  Dvina museization, the formation of the tourist zone of Old  Khndzoresk, the Dzor Kar monument, restoration of the historical and  architectural environment of the central part of the city of Goris,  etc. were discussed.

Following the exchange of views, the Deputy Prime Minister instructed  the heads of departments to submit proposals in a short time to bring  the projects under discussion in a full-fledged form.

It should be noted that the World Bank-funded Local Economy and  Infrastructure Development Program (RMEI) was launched in December  2015 and will be completed in April 2021. The total cost of the  program is $ 68.7 million. The program provides for the improvement  of urban and rural communities, historical and cultural localities,  the establishment of tourist service centers, tourist route roads,  accessibility, technical assistance. The program will play a special  role in building regional tourism potential.

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 of the  order of $ 2.3 billion. As a rule, one third of these funds is spent  on reimbursing the budget deficit and another third on financing  infrastructure projects. On March 28, 2019, the Board of Directors of  the World Bank (WB) approved a new credit line for Armenia for $ 500  million for Armenia to ensure sustainable and inclusive growth and  improve the welfare of the country's population within the framework  of the Country Partnership Framework (CPF) program at 2019-2023 In  order to overcome poverty and promote global prosperity, the World  Bank through CPF intends to assist Armenia in three areas -  stimulation of export and competitiveness of enterprises, development  of human capital and equality, sustainable management of the  environment and natural resources.

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