Armenian parliament ratifies $200-million loan agreement with Russia

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02.07.2015, 17:29

The National Assembly of Armenia ratified today the agreement the Armenian government has signed with Russia to take a $200-million loan from it for purchasing modern armaments in 2015-2017.

Armenian parliament ratifies $200-million loan agreement with Russia

YEREVAN, July 2. /ARKA/. The National Assembly of Armenia ratified today the agreement the Armenian government has signed with Russia to take a $200-million loan from it for purchasing modern armaments in 2015-2017.

At today's parliamentary session, 98 PMs voted for this agreement and only one voted against it.

«New kinds of armaments that have never been used by Armenia's army will be purchased, and this is aimed at retaining balance of armaments in the region,» Ara Nazaryan, deputy defense minister, said while presenting the agreement to the lawmakers.

He said the loan is to be extended for 13 years with a three-year grace period at 3% annual interest rate. ---0-----

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