The World Bank Board of Executive Directors approved today a $25 million loan for Additional Financing of the Education Improvement Project (EIP) in Armenia.

The project will further assist the Government in improving school readiness of children entering primary education, the physical condition and availability of educational resources in general education, and quality and  relevance in higher education institutions in Armenia.

The project, which spans three education levels, will help strengthen the education trajectory and the human capital of Armenian children and is aligned with mid- to long-term government and sectoral strategies.

“With this project, the Government aims to improve the relevance and quality of, and access to, educational services at all levels, including in the early years of a child and for higher education. The project contributes in important ways to strengthening Armenia’s human capital and to enhancing the competitiveness of the economy,” Carolin Geginat, World Bank Country Manager for Armenia, said.

The project has two main components. The first component will focus on enhancing the quality of general education by financing 80 additional community-based preschools in early education for children aged four to six, as well as the training of teachers and principals assigned to new preschools. Four upper secondary schools that are in poor seismic condition and located in areas of climate risk will be rehabilitated and refurbished.

Furthermore, under this component, data-driven evidence-based policy making for improving managing, teaching, and learning will be promoted. 200 school laboratories in general education will be equipped and furnished and will be provided with resources to help teachers deliver a project-based learning approach in the context of the revised science, technology, engineering, and mathematics STEM curriculum.

The second component will finance higher education institution (HEI) projects to improve labor market relevance, organizational efficiency, and equity in enrollment and other opportunities. A call for proposals under the Competitive Innovations Fund (CIF) will welcome projects that aim to develop innovative approaches to strengthen STEM education in both universities and basic education.

The World Bank will provide a $25 million IBRD loan of variable-spread, with a 14.5-year grace period and a total repayment term of 25 years. The Government contribution is $6.25 million.