Today, on November 27, the RA Ministry of Finance signed the "Seismic Risk Improvement Program" loan agreement between the Republic of Armenia and the Asian Development Bank (ADB).
The signing of the agreement was organized within the framework of ADB President Masatsugu Asakawa's visit to Armenia. Director of ADB Central and Western Asia Department Yevgeni Zhukov, ADB Executive Director Made Wijaya, Mayor of Yerevan Tigran Avinyan, the RA Minister of Territorial Administration and Infrastructure Gnel Sanosyan were also present at the event.
The document was signed by the RA Minister of Finance Vahe Hovhannisyan and the head of the Asian Development Bank's Armenian office, Donald Lambert.
The "Seismic Risk Improvement Program" is implemented on the basis of the loan agreement signed between the Republic of Armenia and the Asian Development Bank on October 19, 2015. The project was launched in 2016, within the framework of which credit funds equivalent to 88.5 million US dollars were attracted from ADB.
According to the signed agreement, it is planned to attract another 66,100,000 euros of credit funds in order to complete the full implementation of the project.
The main and key indicator of the project is the construction or strengthening of at least 46 schools in accordance with modern standards of earthquake resistance, thus providing safe educational conditions for about 20,000 students.
To date, 16 schools have been constructed within the framework of the project. Currently, construction works for 20 schools are in progress, and 10 schools are at various stages of implementing design (final) works.
The mentioned program is completely consistent with the 2021-2026 plan of the RA government, one of the priority directions of which is school construction.
Vahe Hovhannisyan and Donald Lambert also signed another credit agreement "Yerevan Urban Development Investment Program" worth 60,090,000 euros.
The project implementation agreement was signed by Mayor of Yerevan Tigran Avinyan and the head of ADB's Armenian office.
The goal of the project is to develop urban infrastructure by building the new Isakov-Arshakunyats road section, which will connect the 3 administrative districts of Yerevan and significantly reduce urban traffic jams. As a result of the implementation of the project, it will be possible to reduce the existing road, urban traffic jams, as well as create new urban infrastructures.
