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.