Armenian government approves ratification of $107 mln loan agreement with ADB.

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18.01.2024, 18:21

The Armenian government has approved today a draft law on ratification of the $107 million loan agreement, signed with the Asian Development Bank (ADB), to finance a seismic safety enhancement program (additional financing).

Armenian government approves ratification of $107 mln loan agreement with ADB.

YEREVAN, January 18. /ARKA/. The Armenian government has approved today a draft law on ratification of the $107 million loan agreement, signed with the Asian Development Bank (ADB), to finance a seismic safety enhancement program (additional financing).

The Asian Development Bank will provide Armenia with an additional loan to complete the construction of a number of schools.

The Seismic Safety Enhancement Program is implemented on the basis of a loan agreement signed between Armenia and ADB in 2015. Its total budget is $107 million. Of that amount $18.6 million is the co-financing of the government.

Thekey indicator of the program is the construction and strengthening of at least 46 schools, as well as ensuring safe learning conditions for about 20,000 students.

Under the program, construction work in 16 schools have been completed so far. Work is now underway in another 20 schools. --0--

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