Due to the lack of success lately on the international level, in recent years, Armenia has rebuilt 16 Soviet-era sports schools and furnished them with new equipment for a total cost of $1.9 million. The rebuilding of the regional schools was financed by the Armenian government. $9.3 million has been invested in the resort town of Tsaghkadzor to improve the winter sports infrastructure because of dismal performances at recent winter sports events. In 2005, a cycling center was opened in Yerevan with the aim of helping produce world class Armenian cyclists. The government has also promised a cash reward of $700,000 to Armenians who win a gold medal at the Olympics.

Who provided the funds to rebuild the Armenian sports schools?