The Armenian government has approved a new loan agreement with the Asian Development Bank for $293 million to continue the earthquake-resistant school construction program. The funds will be used to expand the infrastructure project, which has been implemented in the country since 2016.
The initial phase of the program involved the construction and major repairs of 46 schools, designed for approximately 20,000 students. Currently, work has been completed on 28 facilities, with another 18 in progress. The new agreement will allow for the addition of 50 more schools to the project, which will significantly expand the coverage of educational infrastructure.
In addition to construction, funding will be allocated to revise building codes and modernize the network of seismographs throughout the country. Additional co-financing of approximately $73 million is provided in the form of VAT compensation. Authorities emphasize that the program aims to improve the safety of educational institutions in the seismically active region and provide a long-term renewal of the educational environment.
