The Asian Development Bank (ADB) is extending assistance of USD89.3 million to help Armenia build earthquake-resilient schools and scale up its capacity for responding to natural disasters, the ADB official website reports this.
The Asian Development Bank (ADB) is extending assistance of USD89.3 million to help Armenia build earthquake-resilient schools and scale up its capacity for responding to natural disasters, the ADB official website reports this.
“Since the massive Spitak earthquake in 1988, national authorities have taken numerous steps to develop emergency management and response systems and to improve building design and construction. This assistance will support ongoing government efforts to rebuild and strengthen school buildings to higher earthquake-resistant standards”, the ADB noted.
According to the bank, Armenia has about 1,400 schools and around 1,000 of them require strengthening and reconstruction works at an estimated cost of USD1.2 billion.
ADB’s loan and grant will support improvements to at least 46 priority schools.
ADB’s assistance includes an $88.5 million loan and a technical assistance grant of USD800.000. The government will provide counterpart support equivalent to USD18.5 million.
The program will run for 5 years.
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