YEREVAN, February 11. /ARKA/. At its session on Wednesday, the National Assembly of Armenia ratified a €120.5 million loan agreement with the International Bank for Reconstruction and Development (IBRD, a World Bank entity) for the Tourism and Regional Infrastructure Development Program (TRIP) in Armenia.
According to Armenian Economy Minister Gevorg Papoyan, the agreement was signed on July 22, 2025. The total budget of the program is €120.5 million, of which €96.4 million is an IBRD loan and €24.1 million is co-financing from the Armenian government.
“The program’s completion date is August 31, 2030, and the final deadline for disbursing the loan proceeds is four months after the program’s completion date, that is, December 31, 2030,” the minister noted.
According to him, the TRIP program aims to develop Armenia’s tourism potential in at least seven tourism clusters: Goris, Areni, Yeghegis, Jermuk, Gyumri, Dilijan, and Dvin.
The initiative includes the creation of integrated tourism environments, the development of wine and agrotourism, the construction and modernization of infrastructure, and the attraction of private investment.
The minister stated that the program includes four components: the development of integrated and sustainable tourism clusters; support for climate-resilient infrastructure and the promotion of private sector participation; program management and operational support; and a contingent emergency response component.
The program is being implemented in the country’s regions and is aligned with the World Bank’s approach to developing tourism clusters with private sector engagement.
