Armenia ratifies $100-million Russian defense loan agreement

Wed 06 December 2017 08:51 GMT | 12:51 Local Time

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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, Defence.az 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. 

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