ArmInfo. Armenian Minister of Economy Gevorg Papoyan received a World Bank delegation led by Charles Cormier, Regional Director for Infrastructure in Europe and Central Asia at the World Bank (WB).
According to the press service of the Ministry of Economy, the parties discussed the government's "Crossroads of Peace" initiative and its economic potential. Minister Papoyan highlighted the World Bank's crucial role in implementing programs that support regional economic cooperation.
They also touched on the World Bank's TRIP program, which focuses on at developing tourism and local infrastructure to enhance Armenia's position as an attractive tourist destination. The parties stressed the importance of ongoing joint efforts and effective cooperation, reaching a mutual understanding on the next steps to take.
Recall, the TRIP program aims to establish seven tourism clusters in Goris, Areni, Jermuk, Yeghegis, Dvin, Gyumri, and Dilijan, to promote the development of wine, spa, adventure, cultural, educational, and ecotourism in these areas. The total program budget is 120.5 million euros. It is worth noting that the World Bank (WB) projects a decrease in Armenia's GDP growth to 4.9-4.7% in 2026-2027 from an estimated 5.2% in 2025 (after a slowdown in growth from 8.3% to 5.9% in 2024 - Ed.).
