WB launches $100 million project in Armenia to enhance local tourism   infrastructure

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.