Armenian authorities have announced their plans to borrow an additional 66.1 million euros from the Asian Development Bank for infrastructure development. Minister of Education, Science, Culture, and Sports, Zhanna Andreasyan, made this announcement during a recent meeting of the interdepartmental coordinating council on November 2, 2024. The funds will be specifically allocated for the construction of seismic-resistant schools as part of the government’s 2026 roadmap. This program, which began in 2016, is set to continue until May 30, 2026, with a total financing of 107 million euros.

The aim of the program was initially to construct or renovate 46 schools, benefiting approximately 20,000 students. However, progress has been slower than expected, with only 16 schools built so far, 19 currently in the construction phase, and 10 still in the planning stage. Each school is required to pass a seismic resilience test conducted by the United Nations. Minister Andreasyan emphasized the need for additional funding, as 80% of the loan funds have already been spent.

In recent years, the demand for construction works has significantly increased. The average cost of labor per student has more than doubled, from 2.53 million drams in the first three projects to 4.482 million drams now. This highlights the importance of securing additional funding to ensure the successful completion of the infrastructure development projects.

Armenian authorities are determined to prioritize the construction of seismic-resistant schools to provide a safe learning environment for students. With the support of the Asian Development Bank and the government’s own contributions, it is hoped that the program will achieve its goals by May 2026. The allocation of additional funds is crucial in order to meet the remaining construction and renovation needs of the schools, ultimately benefiting thousands of students in Armenia.