According to this project, it is planned to redistribute 3 billion 366 million drams from the funds provided to the Ministry of Education, Science, Culture and Sports by the state budget in 2022, of which 1 billion 133 million drams will be directed to the government's reserve fund. Vahram Dumanyan, the Minister of Education, Science, Culture and Sports, stated this at Thursday’s Cabinet meeting of the government of Armenia.

According to him, 2 billion 232 million drams will be allocated for the construction work at a number of educational, cultural, and sports facilities and equipping them with property.

"[Also,] 600,540,500 drams will be allocated to the ‘ Weightlifting Federation of Armenia’ NGO in order to procure the necessary property for the purpose of holding the European Adult Weightlifting Championship in Armenia in 2023," Dumanyan added.

The 2023 European Weightlifting Championships will be held from April 1 to 30. This competition to be held in Armenia will be a qualification tournament for the 2024 Summer Olympics in Paris.