ArmInfo.The World Bank is launching a $100 million Tourism and Regional Infrastructure Improvement Project (TRIP) in Armenia. The project will create job opportunities, attract private investment, and benefit local communities and visitors in seven prioritized areas across the country (Areni, Gyumri, Goris, Dilijan, Dvin, Jermuk, and Yeghegis). As noted in the WB statement, the World Bank Group's Board of Executive Directors approved the project on April 17, 2025.
The TRIP project aims to address key constraints in Armenia's tourism sector. Over 1 million residents and visitors annually are expected to benefit from better roads, improved access to urban infrastructure services, and enhanced tourism experiences in the project areas. Through the promotion of tourism practices that provide more durable returns and the improvement of business and professional skills within the tourism value chain, the project will help maximize the economic and job creation potential of tourism regions outside of the capital. These efforts will also help to improve the quality of life for residents and boost economic activity in the targeted regions.
"By improving infrastructure and encouraging sustainable tourism, this project will not only make key destinations more attractive but will also help create jobs and drive local economic growth," said Carolin Geginat, World Bank Country Manager for Armenia. "The project is aligned with the World Bank's Country Partnership Framework for Armenia over the next five years, which focuses on increasing exports and business competitiveness, strengthening people's capacity and opportunity to contribute to the economy, and ensuring better and lasting management practices related to the environment and natural resources.
The project will also strengthen the capacity of the institutions involved in the tourism sector, promote the participation of the private sector, and support actions that promote resilience against disasters in seven tourism areas: Areni, Dilijan, Dvin, Goris, Gyumri, Jermuk, and Yeghegis.
The World Bank is committed to continuing its support to Armenia in its development path for reducing poverty and creating a more prosperous and resilient future. Since 1992, the World Bank has provided around $3 billion, including a current portfolio of around $300 million in investment lending, grants, analytical work, and technical assistance to Armenia from the International Bank for Reconstruction and Development (IBRD), trust funds, and the International Development Association (IDA), to which Armenia also became a donor in 2023.
