18938 views

Armenia to use Russian new USD 100m loan for armament purchase


Photo: REUTERS


Yerevan /Mediamax/. The Russian Federation will provide Armenia with USD 100m state loan for financing purchase of modern weaponry and equipment.

The Armenian government approved the relevant draft agreement during the session today. 

The Armenian side is obliged to repay the actually used amount of money within 15 years, with 3% annual interest rate. In addition, the Armenian side is expected to make advance payments to co-finance 10% of contract values within the frames of the agreement.  

The loan will be used in 2018-2020.

Another loan agreement, signed between Armenia and Russia in 2016, is still in force today.

According to the agreement, Armenia was provided with USD 200m for the purchase of weaponry and military equipment.

Comments

Dear visitors, You can place your opinion on the material using your Facebook account. Please, be polite and follow our simple rules: you are not allowed to make off - topic comments, place advertisements, use abusive and filthy language. The editorial staff reserves the right to moderate and delete comments in case of breach of the rules.

Editor’s choice
banks.am
itel.am
sport
bravo.am