Government approves draft project on providing loan to Karabakh
12:00, 16 April 2015YEREVAN, APRIL 16, ARMENPRESS: The Government of the Republic of Armenia has approved the draft decision on providing a budget loan of 20 million US dollars to the Government of the Nagorno Karabakh Republic in the second trimester of 2015. The loan will be allocated with the repayment period up to December 25 2019.
Armenpress reports that at the session of the Government, the Deputy Minister of Finance of the Republic of Armenia Vakhtang Mirumyan stated that the loan is provided based on the guarantee of the Ministry of Finance of the Nagorno Karabakh Republic.
The loan will be allocated with an annual interest rate of 8%. The principal repayments of the loan will be implemented from March 25, 2016 and the payment of accrued interest will be made from June 25, 2015.
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