1 / 5

“This is one of those loan agreements, the validity of which is more than obvious. The interest rates are quite good,” the Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan noted during the debate of the draft law on Ratifying the loan agreement "Additional financing for the Education Improvement Program" between the Republic of Armenia and the International Bank for Reconstruction and Development at the sitting of the Committee on October 21.

The Committee Chair emphasized that as a result of the implementation of the program, thousands of children will have the opportunity to receive a competitive education. In this context, Gevorg Papoyan highlighted the issue of teacher training, as well as the introduction of master’s programs in universities for specialists corresponding to the new requirements of the labor market.

The Deputy Minister of Education, Science, Culture and Sports Zhanna Andreasyan informed that according to the agreement on additional financing, it is planned to carry out major repairs and rebuild 4 high schools. Those schools are High School N 13 in Vanadzor, high schools in Artashat and Ashtarak, High School N 139 in Yerevan.

Natural science and information technology laboratories will be created in 200 schools within the framework of the debated agreement. The Government plans that all schools of the republic should be provided with such laboratories until 2026.

At least 80 preschools will be established in 80 settlements of the republic within the framework of the agreement. It is planned to create 500 preschools by 2026.

Universities will receive grants to implement innovative and development programs. This program continues from the previous loan program. Universities have already done a lot of work in this regard.

According to the agreement signed on June 9 of this year, it is planned to allocate 22.6 million euros.

The loan repayment is 25 years. 14.5 years is grace period. The interest rate is 0.25% per annum.

Zhanna Andreasyan, in response to the MPs’ questions, noted that the Government implements school renovation and school construction works through various programs. This loan agreement is intended to implement a part of the planned.

The Committee endorsed the draft law.