ADB to provide a new $ 88.5 million loan to Armenia

YEREVAN, NOVEMBER 11, ARMENPRESS. The Asian Development Bank (ADB) is extending assistance of $88.5 in the frames of the “Program for ensuring seismic safety: Accommodation based on the results”, “Armenpress” was informed about the latter from the Armenian branch of ADB. The agreement included the issue of approving the government's session on November 12.

This assistance will support ongoing government efforts to rebuild and strengthen school buildings to higher earthquake-resistant standards and to further develop the government's capacity, ownership and initiative in the management of earthquake risks.

The loan is provided at an interest rate of 2% per annum, by 25-year maturity, including a 5 year grace period.