ArmInfo. The International Bank for Reconstruction and Development will provide Armenia with a loan of 96.4 million euros for the implementation of the "Tourism and Regional Infrastructure Development" program. The RA government gave its approval to sign a loan agreement with the Bank at its meeting on July 10.
According to Arman Khojoyan, Deputy Minister of Economy of the RA, the total cost of the program is 120.5 million euros, of which 96.4 million euros are loan funds and 24.1 million euros is co-financing from the RA government. The goal of the program is to improve access to climate- resilient infrastructure and increase the contribution of tourism to the local economy. The project is aimed at increasing Armenia's tourism potential through targeted infrastructure and "soft" investments in a number of regions of the country. Specifically, the project will support seven designated tourism clusters, promoting wine, adventure, cultural, educational and ecotourism in the Ararat, Vayots Dzor, Shirak, Tavush and Syunik regions. The project will focus on attracting tourists to these clusters and investing in improving the infrastructure of tourism destinations. The project is also in line with the World Bank's approach to attracting private capital to designated tourism clusters.
The program consists of several components: promoting integrated and sustainable cluster development, developing and finalizing cluster development plans for Dilijan, Dvin, Goris, Jermuk and Yeghegis, developing zoning plans for tourism zones that are resilient to climate change and natural disasters, conducting studies for investment planning and other analytical work, conducting public awareness campaigns and related activities to involve citizens in the preparation of cluster development programs, developing management plans for cultural heritage sites, as well as plans for the operation and maintenance of individual tourism sites that will ensure the long-term conservation and monitoring of tourism sites. It also provides for conducting research and implementing other activities to collect data on tourism, supporting the establishment of tourism hubs and destination management offices in the Areni, Dilijan, Yeghegis and Jermuk clusters through training and advanced training, provision of goods and equipment, leadership training and promoting women's participation in this field. The entire program should be implemented by the end of 2030.
