YEREVAN, November 2. /ARKA/. The Armenian government has approved today the signing of a 66.1 million euros loan agreement with the Asian Development Bank (ADB).

The funds will be used to finance  the renovation of schools which are in  a very bad state and construction of new ones.

Territorial Administration and Infrastructure Minister Gnel Sanosyan said a total fo 46 schools are to be renovated and built as part of a program designed to improve the seismic safety of schools.

He said 16 schools have already been built within the framework of the program, 19 more are under construction and the rest are at the design stage. 

The program started in 2016 and will last until May 30, 2026. The total budget is $107 million, of which $88.5 million are ADB loan funds and $18.5 million are government co-financing. -0-