Local Economy and Infrastructure Development Project

Abstract*

The development objective of the Local Economy and Infrastructure Development Project for Armenia is to improve infrastructure services and institutional capacity for increased tourism contribution to local economy in selected regions of Armenia. The project comprises of three components. The first component, heritage hub regeneration and tourism circuit development will comprise of four sub-components: (i) heritage hub regeneration; (ii) development... Show More

Development Objective

<p>The Project Development Objective is to improve infrastructure services and institutional capacity for increased tourism contribution to local economy in selected regions of Armenia.</p>

Key Details

Project Details

Project ID
P150327
Status
Closed
Team Leader
Tafadzwa Dube
Borrower 2
Republic of Armenia

Country
Armenia
Disclosure Date
March 26, 2015
Approval Date
(as of board presentation)
December 22, 2015
Effective Date
December 29, 2016

Total Project Cost 1
US$ 68.75 million
Implementing Agency
Armenia Territorial Development Fund,Ministry of Economy
Region
Europe and Central Asia
Fiscal Year 3
2016

Commitment Amount
US$ 48.20 million
Environmental Category
B
Last Update Date
March 28, 2024
Closing Date
December 31, 2024

Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Infrastructure and Access2%
- FY17 - MSME Finance2%

FY17 - Human Development and Gender

FY17 - Disease Control1%
- FY17 - Pandemic Response1%

FY17 - Private Sector Development

FY17 - Enterprise Development2%
- FY17 - MSME Development2%
FY17 - Jobs8%
- FY17 - Job Creation8%
FY17 - Public Private Partnerships10%

FY17 - Urban and Rural Development

FY17 - Cultural Heritage27%
FY17 - Rural Development8%
- FY17 - Rural Infrastructure and service delivery8%
FY17 - Urban Development54%
- FY17 - Urban Infrastructure and Service Delivery31%
- FY17 - Urban Planning23%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
Borrower/Recipient	9.64
International Bank for Reconstruction and Development	48.20

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	48.20
IDA Commitment	N/A
IBRD + IDA Commitment	48.20

Lending Instrument
Grant Amount	N/A
Total Project Cost**	68.75

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
May 15, 2020	IBRD-85720	Int Charges	176.90
Nov 9, 2020	IBRD-85720	Loan Disb	907,411.25
Jun 2, 2020	IBRD-85720	Loan Disb	514,482.06
Jul 31, 2020	IBRD-85720	Loan Disb	313,411.66
Jul 6, 2020	IBRD-85720	Loan Cancel	3,200,000.00
May 15, 2021	IBRD-85720	Int Charges	215.36
May 15, 2021	IBRD-85720	Int Charges	53,027.44
May 15, 2021	IBRD-85720	Int Charges	56,496.49
May 15, 2021	IBRD-85720	Int Charges	37.20
Feb 8, 2021	IBRD-85720	Loan Disb	1,615,946.10
May 12, 2021	IBRD-85720	Loan Disb	361,841.12
Nov 15, 2020	IBRD-85720	Int Charges	57,350.71
Nov 15, 2020	IBRD-85720	Int Charges	60,120.38
Dec 26, 2017	IBRD-85720	Loan Disb	11,749.36
Nov 15, 2017	IBRD-85720	Int Charges	69,003.30
Nov 15, 2017	IBRD-85720	Int Charges	3,021.91
Nov 15, 2017	IBRD-85720	Int Charges	16.44
Nov 15, 2017	IBRD-85720	Int Charges	128.22
Aug 23, 2017	IBRD-85720	Loan Disb	21,646.93
Jun 11, 2018	IBRD-85720	Loan Disb	300,000.00
Apr 2, 2018	IBRD-85720	Loan Disb	15,290.81
Aug 30, 2018	IBRD-85720	Loan Disb	600,000.00
Sep 20, 2018	IBRD-85720	Loan Disb	316,622.03
Nov 15, 2018	IBRD-85720	Int Charges	4.51
Nov 15, 2018	IBRD-85720	Int Charges	42.60
Nov 15, 2018	IBRD-85720	Int Charges	67,991.84
Nov 15, 2018	IBRD-85720	Int Charges	17,009.99
Jul 26, 2018	IBRD-85720	Loan Disb	263,417.30
May 15, 2018	IBRD-85720	Int Charges	67,847.89
May 15, 2018	IBRD-85720	Int Charges	3,479.46
Nov 20, 2018	IBRD-85720	Loan Disb	418,556.40
Apr 26, 2019	IBRD-85720	Loan Disb	700,000.00
May 15, 2019	IBRD-85720	Int Charges	1,597.45
May 15, 2019	IBRD-85720	Int Charges	65,198.88
May 15, 2019	IBRD-85720	Int Charges	42,066.91
May 15, 2019	IBRD-85720	Int Charges	121.45
May 14, 2019	IBRD-85720	Loan Disb	29,723.10
Dec 29, 2016	IBRD-85720	Loan Disb	137,500.00
Dec 29, 2016	IBRD-85720	Fee Charges	137,500.00
May 15, 2017	IBRD-85720	Int Charges	145,381.80
May 15, 2017	IBRD-85720	Int Charges	1,135.48
Apr 21, 2017	IBRD-85720	Loan Disb	100,000.00
Dec 22, 2015	IBRD-85720	Loan Commitment	55,000,000.00
May 30, 2023	IBRD-85720	Loan Disb	897,442.30
Sep 26, 2023	IBRD-85720	Loan Disb	800,000.00
Jul 25, 2023	IBRD-85720	Loan Disb	2,069,989.50
May 22, 2023	IBRD-85720	Loan Disb	570,411.10
Jun 26, 2023	IBRD-85720	Loan Disb	516,978.62
May 15, 2023	IBRD-85720	Int Charges	31,152.41
May 15, 2023	IBRD-85720	Int Charges	74.69
May 15, 2023	IBRD-85720	Int Charges	484,363.53
May 15, 2023	IBRD-85720	Int Charges	23,619.78
Jun 29, 2023	IBRD-85720	Loan Disb	500,000.00
Oct 11, 2023	IBRD-85720	Loan Disb	1,200,235.50
Nov 15, 2023	IBRD-85720	Int Charges	10,883.57
Nov 15, 2023	IBRD-85720	Int Charges	25,824.88
Nov 15, 2023	IBRD-85720	Int Charges	710,899.56
Nov 10, 2023	IBRD-85720	Loan Disb	2,863,728.20
May 15, 2024	IBRD-85720	Int Charges	20,897.13
May 15, 2024	IBRD-85720	Int Charges	17,153.62
May 15, 2024	IBRD-85720	Int Charges	995,907.75
Jan 30, 2024	IBRD-85720	Loan Disb	2,110,984.00
Jul 24, 2024	IBRD-85720	Loan Disb	2,287,936.00
May 16, 2024	IBRD-85720	Loan Disb	1,109,747.80
Jun 27, 2024	IBRD-85720	Loan Disb	550,000.00
May 15, 2024	IBRD-85720	Int Charges	659.78
Jun 24, 2021	IBRD-85720	Loan Disb	610,500.20
Sep 15, 2021	IBRD-85720	Loan Disb	185,386.88
Nov 15, 2021	IBRD-85720	Int Charges	7.44
Nov 15, 2021	IBRD-85720	Int Charges	30.25
Nov 15, 2021	IBRD-85720	Int Charges	51,018.19
Nov 15, 2021	IBRD-85720	Int Charges	68,586.16
Nov 30, 2021	IBRD-85720	Loan Disb	897,683.20
Oct 14, 2021	IBRD-85720	Loan Disb	1,480,732.50
Mar 31, 2022	IBRD-85720	Loan Disb	89,946.47
Aug 9, 2021	IBRD-85720	Loan Disb	772,077.60
May 15, 2022	IBRD-85720	Int Charges	1,586.99
May 15, 2022	IBRD-85720	Int Charges	29,527.45
May 15, 2022	IBRD-85720	Int Charges	90,186.07
May 15, 2022	IBRD-85720	Int Charges	402.01
Jun 27, 2022	IBRD-85720	Loan Disb	557,471.60
Aug 25, 2022	IBRD-85720	Loan Disb	711,608.10
Feb 11, 2022	IBRD-85720	Loan Disb	321,692.12
Dec 1, 2022	IBRD-85720	Loan Disb	671,506.94
Aug 12, 2021	IBRD-85720	Loan Cancel	9,000,000.00
Dec 27, 2021	IBRD-85720	Loan Disb	115,474.01
Oct 13, 2022	IBRD-85720	Loan Disb	330,432.70
Dec 22, 2022	IBRD-85720	Loan Disb	310,217.53
Nov 15, 2022	IBRD-85720	Int Charges	113.94
Nov 15, 2022	IBRD-85720	Int Charges	34,547.53
Nov 15, 2022	IBRD-85720	Int Charges	268,968.70
Nov 15, 2022	IBRD-85720	Int Charges	27.73
Feb 9, 2023	IBRD-85720	Loan Disb	1,199,137.40
Sep 27, 2019	IBRD-85720	Loan Disb	527,158.50
Aug 20, 2019	IBRD-85720	Loan Disb	519,778.30
Nov 15, 2019	IBRD-85720	Int Charges	291.85
Nov 15, 2019	IBRD-85720	Int Charges	4,265.05
Nov 15, 2019	IBRD-85720	Int Charges	63,536.02
Nov 15, 2019	IBRD-85720	Int Charges	81,564.01
Mar 26, 2019	IBRD-85720	Loan Disb	585,606.90
Jul 18, 2019	IBRD-85720	Loan Disb	1,072,256.50
Dec 16, 2019	IBRD-85720	Loan Disb	241,730.69
Feb 18, 2020	IBRD-85720	Loan Disb	536,078.50
May 15, 2020	IBRD-85720	Int Charges	2,399.01
May 15, 2020	IBRD-85720	Int Charges	60,864.04
May 15, 2020	IBRD-85720	Int Charges	89,389.84

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Moderately Satisfactory	2024-12-23
Monitoring and Evaluation	Moderately Satisfactory	2024-12-23
Progress towards achievement of PDO	Moderately Satisfactory	2024-12-23
Procurement	Moderately Satisfactory	2024-12-23
Financial Management	Satisfactory	2024-12-23
Overall Implementation Progress (IP)	Moderately Satisfactory	2024-12-23

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Improved access roads to selected tourism attraction sites Value 0.00 36.40 40.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Increased tourism spending Value 749.50 1237.00 862.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of jobs created by activities linked to the project investments (gender disaggregated) Value 0.00 48.00 350.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of destination management offices established and operational to ensure sustainability. Value 0.00 0.00 2.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Percentage of beneficiaries who report that citizen engagement processes are effective Value 0.00 96.00 100.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of Public Awareness and Marketing Campaigns launched Value 0.00 0.00 10.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Grievances registered, responded to and/or addressed within one month of being filed Value 0.00 100.00 100.00
Date October 22, 2015 November 30, 2023 December 31, 2024
Comment
Preparation of Site Management Plans for key touristic sites Value 0.00 4.00 4.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Piped household water connections that are benefiting from rehabilitation works undertaken by the project Value 0.00 167.00 150.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment

Ministry of Economy, through its Tourism Committee, has improved capacity to regularly report tourism statistical data and analysis	Value	No updated tourism statistics collected and publis	Tourism statistics methodology developed, and visi	Tourism statistics collected and published
	Date	June 3, 2020	November 30, 2023	December 31, 2024
	Comment

Number of old houses restored Value 0.00 36.00 30.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of street lighting posts and bulbs replaced/installed Value 0.00 1990.00 900.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of Parks upgraded Value 0.00 1.00 2.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Project beneficiaries Value 0.00 1047828.00 1000000.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Of which female (beneficiaries) Value 0.00 479120.00 500000.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of tourism facilities constructed/improved Value 0.00 12.00 10.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment
Number of museum/art galleries refurbished Value 0.00 0.00 1.00
Date December 22, 2015 November 30, 2023 December 31, 2024
Comment

Improved access roads to selected tourism attraction sites	Value	0.00	36.40	40.00
	Date	December 22, 2015	November 30, 2023	December 31, 2024
	Comment

Increased tourism spending	Value	749.50	1237.00	862.00
	Date	December 22, 2015	November 30, 2023	December 31, 2024
	Comment

Number of old houses restored	Value	0.00	36.00	30.00
	Date	December 22, 2015	November 30, 2023	December 31, 2024
	Comment

Number of Parks upgraded	Value	0.00	1.00	2.00
	Date	December 22, 2015	November 30, 2023	December 31, 2024
	Comment

Project beneficiaries	Value	0.00	1047828.00	1000000.00
	Date	December 22, 2015	November 30, 2023	December 31, 2024
	Comment

Of which female (beneficiaries)	Value	0.00	479120.00	500000.00
	Date	December 22, 2015	November 30, 2023	December 31, 2024
	Comment

Grievances registered, responded to and/or addressed within one month of being filed	Value	0.00	100.00	100.00
	Date	October 22, 2015	November 30, 2023	December 31, 2024
	Comment

Local Economy and Infrastructure Development Project

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS