The Asian Development Bank (ADB) has approved a $10 million policy-based loan to assist the Armenian Government’s efforts to improve the quality and accessibility of education and health services, Modern Diplomacy reported. 

According to the source, Armenia is experiencing a demographic shift with the share of children under the age of 18 declining from 37% of the national population in 1990 to 25% now, signaling an impending decline of the country’s labor force.

Access to and funding for quality education and health services are poor, resulting in many people not having the skills to meet employers’ needs and avoidable ill health having a detrimental effect on the population, the report added.

“A well-educated and healthy population is essential for the growth and development of a country like Armenia, where human capital is significantly unrealized,” said ADB Senior Health Specialist for Central and West Asia Ms. Rouselle Lavado. “ADB’s assistance will support the government’s ongoing efforts to ensure that citizens are educated, healthy, and productive.

The main focus of the Human Development Enhancement Program is children and youth, starting from the preschool age. As well as improving the accessibility and enhancing the quality of education and health services in the country, the program will also increase financing for these efforts.