Armenia to receive $100m from World Bank for creation of tourism clusters

YEREVAN, 10 December. /ARKA/. The World Bank plans to provide $100 million to Armenia for the creation of tourism clusters, Armenian Minister of Economy Gevorg Papoyan said at a meeting with the founder and president of the World Travel Awards Graham Cooke.

Papoyan stressed that the World Bank's money will be used to create tourism clusters in the regions of the country to stimulate the development of the field and contribute to the economic progress of the country.

According to the press service of the Ministry of Economy, the interlocutors discussed the prospects of development of Armenia's tourism industry and new opportunities of international cooperation.  

The Minister noted that the government plans to develop the potential of the sector through systematic investments and expansion of infrastructures. He emphasised the importance of strengthening Armenia's position in international platforms as a tourist attractive country.

For his part, the founder of World Travel Awards highly assessed Armenia's progress in the tourism industry and presented the possibilities of targeting Armenia as a tourism brand in the international markets.

Cooke spoke about the steps to be taken in order to raise Armenia’s recognition on international platforms. 

About WB programmes in Armenia 

Since the start of its operations in Armenia in 1992, the World Bank has provided the country with approximately $2.7 billion through the International Development Association, the International Bank for Reconstruction and Development and trust funds. Currently, the WB is financing 10 projects in Armenia with a total value of $500 million.

The World Bank intends to continue to support Armenia's development towards poverty reduction and shared prosperity.-0-