RA Ministry of Economy, World Bank outline next steps for TRIP

ArmInfo. The regular meeting of the head of the department Gevorg Papoyan with Tafadzwa Dube, the Senior Disaster Risk Management Specialist of the World  Bank (WB), and Caroline Geginat, WB Country Manager for Armenia, took  place at the Ministry of Economy.

During the meeting, the parties discussed the implementation of the  Tourism Development and Regional Infrastructure Improvement Program  (TRIP), within the framework of which the World Bank will invest $100  million. As previously reported by the Ministry of Economy, these  funds will be used to create 10 tourism clusters in Armenia. These  clusters will be established in settlements such as Areni, Jermuk,  Goris, Dvin, Gyumri, Aparan, Yeghegis, Sevan, Dilijan and others. The  program is scheduled  to be implemented from 2025 to 2029.  The  interlocutors discussed the results of the work completed as part of  the program and outlined next steps to ensure its effective and  consistent implementation.  Recall that the World Bank expects a  slowdown in Armenia's GDP growth rate to 5.5% in 2024 and 5% in 2025.