The Government of Armenia approved the 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 state 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 stage will be the construction and reconstruction of another 50 schools. The implementation of the program is planned to be completed by September 30, 2027. Armenia and the ADB signed the loan agreement for $293 million on July 17, 2026.
Cooperation on improving the seismic safety of schools began back in 2016. The first phase involved the construction and strengthening of 46 schools, designed for approximately 20 thousand students. The new loan will be the third financing from the ADB within the framework of this program and will allow for the continued modernization of school infrastructure, taking into account seismic risks.