Politics 19:00 02/07/2015

Armenian parliament ratifies agreement on Russia’s $200 million export loan to Armenia

At the extraordinary session today Armenian National Assembly ratified the agreement on the provision of a $200 million concessional export loan by Russia to Armenia. The loan will be used to widen considerably the range of modern weapons of the Armenian armed forces.

98 MPs voted in favor, one MP – member of ‘Heritage’ opposition faction Zaruhi Postanjyan voted against.

When presenting the agreement at the parliament, Armenian Deputy Defense Minister Ara Nazaryan said that under the agreement, military production made in Russia will be purchased in 2015-2017.

The loan is provided at an annual interest rate of 3% for 13 years, with a 3-year grace period, he said.



Source Panorama.am
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