Armenia to attract $100 million from WB to create 10 tourism clusters - Minister

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YEREVAN, November 4. /ARKA/. Armenia plans to secure credit funds from the World Bank for the creation of tourism clusters in the country, Armenian Minister of Economy Gevorg Papoyan said during budget discussions in parliament./pp “We are operating under a significant five-year loan agreement with the World Bank, under which we plan to secure $100 million to be allocated to 10 tourism clusters in the regions of Armenia,” he said during budget discussions in parliament./pp

According to Papoyan, this specifically concerns the communities of Goris, Yeghegis, Areni, Jermuk, Aparan, Gyumri, Dvin, Dilijan, and Sevan./pp

In response to a question about the tourism development strategy, Papoyan stated that it has not yet been approved and is currently undergoing active discussions./pp

The Armenian authorities view tourism as a strategic priority for long-term development. The development of a draft five-year tourism strategy is in its final stages stated Narek Hovakimyan, the Deputy Minister of Economy of Armenia, at the end of September./pp

According to the Ministry of Economy, approximately 1.7 million tourists visited Armenia in the first nine months of 2024, which is 6.8% less than in the same period last year./pp

Since joining the World Bank in 1992, Armenia's obligations to the World Bank as of March this year amount to approximately $2.53 billion. -0-/p brp/p