Russia provides Armenia with new loan of 100 million USD for obtaining modern arms

YEREVAN, OCTOBER 11, ARMENPRESS. Russia provides Armenia with a new export credit of 100 million USD for obtaining modern arms. ARMENPRESS reports the issue of ratifying the agreement between the governments of Armenia and Russia on providing Armenia with state export credit is included in the agenda of the Cabinet’s October 12 meeting.

According to the agreement the loan repayment term is 20 years 5 of which is a grace period with 3 % annual interest rate.

According to the provisions of the agreement, separate agreement will be signed between the Defense Ministry of Armenia and Rosoboronexport defining the terms and conditions of the deal.

Another credit agreement of 200 million USD for arms purchases was signed with Russia on June 26, 2015.