Thursday, January 18 2024 12:53

ArmInfo.At its meeting on January 18, the Government of Armenia approved the ratification of  the loan agreement of the   Seismic Safety Improvement Program (additional financing) between the Republic of Armenia and the Asian Development Bank (ADB) worth 66.1 million euros.

The signing of the agreement took place on November 27, 2023. The  Seismic Safety Improvement Program  is being implemented between the  Republic of Armenia and the Asian Development Bank on the basis of a  loan agreement signed on October 19, 2015. The project started in  2016, within the framework of which loan funds in the amount of $88.5  million were attracted from ADB. According to the signed agreement,  it is planned to attract another 66.1 million euros of loan funds to  fully implement the project.  The main and key indicator of the  project is the construction or strengthening of at least 46 schools  in accordance with modern earthquake resistance standards, which will  provide safe learning conditions for approximately 20,000 students.  Currently, 16 schools have been built as part of the project.  Currently, construction work is underway on 20 schools. 10 schools  are at various stages of design (final) work. 10 schools are at  various stages of implementation of design (graduation) work.

According to the loan agreement, all schools included in the program  must undergo an international examination and receive a certificate  for seismic resistance of 9 points. In this regard, in addition to  all the examinations provided for by the legislation of the Republic  of Armenia, each school project is subject to international  examination. The construction of the school is also being carried out  under the supervision of international experts. After completion of  construction work, schools undergo international examination and  receive an appropriate certificate for seismic resistance of 9  points.

The commissioned schools have now created safe learning conditions  for about 10.7 thousand students.  Disaster risk management and  evacuation plans have also been developed for these schools. Within  the framework of the project, RA seismic construction standards,  instructions for earthquake-resistant construction and a seismic  hazard map on a scale of 1:500,000 were also developed and approved.   As a result of the work carried out to date, about 80% of the funds  allocated for the project have been spent.  However, as noted, "in  the current situation, it is obvious that it becomes impossible to  implement all the work planned in the program with the remaining  financial resources due to the following main factors:  construction  instead of strengthening was considered appropriate in 45 of the 46  schools included in the program; fluctuations in US currency exchange  rates; increase in prices for building materials.  Based on the  abovementioned, as a result of the analyzes carried out, it is  planned to attract additional funding in the amount of 66,100,000  euros for the full implementation of the project.

Established in 1966, ADB has 68 members (as of 23 March 2019): 49  members from the Asian and Pacific Region, and 19 members from Other  Regions. Since 2005, ADB has supported Armenia through various  programs, mainly in the areas of transport, public finance, school  safety, energy, water supply and urban development.