Armenia ratifies $100-million Russian defense loan agreement

Wed 06 December 2017 08:51 GMT | 08:51 Local Time

Text size: bigger smaller

Armenian lawmakers unanimously ratified today the $100-million defense loan agreement signed with Russia in Yerevan on October 24.

The agreement implies supply of armament as part of the already existing agreement dated from 2013, reports.

In accordance with the agreement, Russia will provide a state export loan to Armenia for supplying Russia-made military products to Armenia. 

The loan will be provided at a three-percent annual interest rate for a 15-year period which begins in 2023 and ends in 2037, but the lent financial resources will be used already in 2018-2022. 

The agreement was signed on October 24, 2017. 




Most read articles

More from World

In The Region

Editor Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate