Armenia Invites World Bank President to 2026 Crossroads of Peace Investment Forum

YEREVAN, February 2. /ARKA/. Armenia has extended an invitation to World Bank President Ajay Banga to take part in the Crossroads of Peace Investment Forum, which is set to occur in the country in 2026.

According to the press service of the Ministry of Economy, the invitation was delivered by Minister of Economy Gevorg Papoyan to Charles Cormier, the World Bank Regional Director for Infrastructure in Europe and Central Asia.

Papoyan also invited Cormier to join the forum.

During their meeting, the two parties discussed the Armenian government's Crossroads of Peace initiative, its economic potential, and the Tourism Regional Infrastructure Project (TRIP).

The Crossroads of Peace initiative aims to initiate (renew) and enhance transport communications among Armenia, Georgia, Turkey, Azerbaijan, and Iran through the use of roads, railways, cables, pipelines, and power lines.

The Armenian side believes that the project's execution could lead to the establishment of shorter routes connecting the Caspian and Mediterranean Seas, as well as the Persian Gulf and the Black Sea.

The TRIP initiative seeks to develop tourism clusters in the communities of Areni, Jermuk, Goris, Dvin, Gyumri, Aparan, Yeghegis, Sevan, and Dilijan in Armenia from 2025 to 2029.

The total budget for the initiative is projected to be €120 million, with €96 million expected to be sourced from the World Bank and €24 million from the Armenian state budget.

The program's objective is to enhance the quality of life in the involved communities and boost their tourism attractiveness by generating additional income and fostering local business development.-0-