At Thursday's Cabinet session, the government approved the draft law on ratifying the loan agreement with the International Bank for Reconstruction and Development (IBRD) on additional funding to the education improvement program in Armenia.

In the explanation of the respective decision, it is noted that the aforesaid loan agreement in the amount of €22,600,000 was signed between Armenia and the IBRD on June 9.

The directions within the framework of the Improving Education loan program are planned to be expanded through this loan agreement.

In particular, it is planned to build, revamp, or renovate at least 300 schools and at least 500 kindergartens in Armenia by the year 2026, and to ensure their full supply with the necessary material goods and equipment.

Also, the existing grant system will enable to select Armenia’s respective communities in need.