The executive approved the RA draft law "On ratifying the loan agreement between the Republic of Armenia and the International Bank for Reconstruction and Development "Tourism and Regional Infrastructure Program of Armenia".
The total cost of the project is 120,500,000 euros, of which 96,400,000 euros are loan funds, and 24,100,000 euros are co-financing from the RA Government. The completion date of the project is set in 2030. August 31, and the deadline for disbursement of loan funds is four months after the end date - 2030. December 31. The overall coordination and policy support responsibilities of the project will be assigned to the RA Ministry of Economy, and the implementation to the Territorial Development Fund of Armenia.
The goal of the project is to increase the tourism potential of Armenia through the implementation of targeted infrastructural and "soft" investments in several marzes of the country. In particular, it will support seven of the identified tourism clusters, promoting wine, resort, adventure, cultural, educational and ecotourism in Ararat, Vayots Dzor, Shirak, Tavush and Syunik marzes. The core of the project will be to ensure the connection of tourists with these clusters and investments aimed at improving the infrastructure of tourist places. The project is also in line with the World Bank's approach to promote the involvement of private capital in selected tourism clusters. The program consists of 4 components: promotion of integrated and sustainable development of clusters, support for climate-resilient infrastructure and promotion of private sector participation in the local economy, project management and operational support, conditional emergency response component.
In particular, the first component envisages the development and summary of cluster development programs for Dilijan, Dvin, Goris, Jermuk and Yeghegis. Support the establishment of tourist center-destination management offices in the Areni, Dilijan, Yeghegis and Jermuk clusters through training and capacity building, provision of products and equipment.
