At the meeting of the Armenian government on October 8, a decision was made to allocate about 24 billion drams during 2026-2027 for the "Seismic Safety Improvement Program" implemented with the support of the Asian Development Bank (ADB):
Why is this important. The allocated funds will allow completing the construction and reinforcement works for 46 schools planned by the program:
Reasons for financing.
Insufficient residual funds. The initial funds provided by the loan program were not enough to fully complete the construction works:
Obligation of the state budget. According to the terms of the loan agreement, all additional expenses must be compensated from the state budget of Armenia:
