The Government of Armenia has approved a draft law on the ratification of a loan agreement with the Asian Development Bank for $293 million. The funds will be directed to the third phase of the “Seismic Safety Improvement-3” program, which provides for the construction and strengthening of school buildings. The total cost of the project is estimated at approximately $366 million, of which $73 million will be government co-financing.
Within the framework of the program, work has already been completed in 30 schools, and in another 16 buildings, it is in the final stage. The next phase will involve the construction and reconstruction of 50 more schools. The implementation of the program is planned to be completed by September 30, 2027. Armenia and the ADB signed the $293 million loan agreement on July 17, 2026.
Cooperation on improving seismic safety in schools began back in 2016. The first phase involved the construction and strengthening of 46 schools, designed for approximately 20,000 students. The new loan will be the third financing from the ADB within this program and will allow for the continued modernization of school infrastructure, taking into account seismic risks.