ArmInfo. Armenia's government has approved amendments to the "Seismic Safety Improvement Programme: loan on results", which is being implemented with the sponsorship of the Asian Development Bank (ADB).
The programme provides for the construction and reinforcement of at least 46 schools designed for about 20,000 students.
Some financial problems are expected in the latter half of 2023 due to the fact that the funds to be allocated under the signed construction contracts and the ones to be signed soon exceed the performance indicators and funds to be lent. Specifically, a total of
42.2mln SDR of the 59.7mln under the loan agreement SDR have to date been paid. The rest 17.5mln SDR will be available at the end of this year, after the necessary performance indicators are ensured.
Twenty-one school construction projects are in progress, with 14 projects at different stages. One school construction project has
been put out to tender.
To ensure further implementation, funds will be allocation from Armenia's state budget in the third quarter of 2023, after the performance indicators are ensured and necessary loans received. The necessary funds are estimated at AMD 2,500,000,000. The transactions has been agreed on with the ADB.
The ADB School Seismic Safety Improvement Program will support the government in reviewing, updating, consolidating, and implementing its school seismic safety improvement program. The indicative program scope includes: (i) seismic strengthening and renovating priority school buildings; (ii) improving seismic safety planning and management competencies; and (iii) strengthening program management, implementation, and monitoring capacity.
It was launched in 2015 and is to be completed next year. The programme provides for reinforcement of about 400 schools. During the first two decades, a total of 58,700 school students, teachers and other employees will be able to enjoy the results. The ADB aid includes $88.5mln from the Asian Development Fund and two grants - $800,000 and $680,000. The Armenian government's share is $18.5mln.
