The European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organisation (UNWTO) have joined forces to invest in the recovery of the tourism sector in 38 economies.
According to the UNWTO, all countries introduced restrictions on travel due to COVID-19. This resulted in a catastrophic impact on the tourism industry. With the crisis far from over and international tourism arrivals unpredictable for the current season, the two organisations have agreed to take immediate action to facilitate recovery of the sector.
States that will benefit from the assistance include Albania, Croatia, Greece, and Montenegro in the Western Balkans. Others include Armenia, Egypt, Georgia, Jordan, Lebanon, Morocco, Tunisia, Turkey and Uzbekistan.
The response has been designed in line with the three pillars of the UNWTOs Tourism Recovery Technical Assistance Package. This includes measurements of the impact of the pandemic, recovery plans related to the tourism sector, protocols to ensure enhanced safety, capacity building of tourism officials, and training for tourism enterprises in adopting the new protocols.
The EBRD is committing all of its activity in 2020-21 to helping its regions counter the economic impact of the coronavirus pandemic, with investment expected to reach up to €21 billion. The Bank will target all sectors of the economy, including tourism and hospitality which were particularly affected by the Covid-19 crisis.