Tweet
ARMENIA TO RECEIVE $500MLN STABILIZATION LOAN FROM RUSSIA IN LATE MAY - EARLY JUNE 2009
ARKA
March 26, 2009
YEREVAN, March 26. /ARKA/. Armenia is to receive a $500mln worth
stabilization loan from Russia in late May - early June 2009, Press
Secretary of Armenian Ministry of Finance Irina Ayvazyan reported
Thursday.
On February 9 2009, Russia and Armenia signed a loan agreement on
provision of $500mln to Armenia for neutralization of the negative
impact of the global financial crisis on the country's economy. Under
the preliminary agreement, the loan is to be provided for 15 years
with a 4-year grace period.
The final agreement is expected to be signed at the end of April after
the redistributed Russian state budget is approved by the State Duma
of Russia, Ayvazyan said adding that yet, no certain schedule or
dates exist.
The first loan funds are expected to arrive in the country at the end
of May - beginning of June after the required procedures are observed
in Armenia, he said.
Earlier, Armenian Premier Tigran Sargsyan said that the entire
stabilization loan will be spent on anti-crisis measures to ensure
economic growth in Armenia.
ARKA
March 26, 2009
YEREVAN, March 26. /ARKA/. Armenia is to receive a $500mln worth
stabilization loan from Russia in late May - early June 2009, Press
Secretary of Armenian Ministry of Finance Irina Ayvazyan reported
Thursday.
On February 9 2009, Russia and Armenia signed a loan agreement on
provision of $500mln to Armenia for neutralization of the negative
impact of the global financial crisis on the country's economy. Under
the preliminary agreement, the loan is to be provided for 15 years
with a 4-year grace period.
The final agreement is expected to be signed at the end of April after
the redistributed Russian state budget is approved by the State Duma
of Russia, Ayvazyan said adding that yet, no certain schedule or
dates exist.
The first loan funds are expected to arrive in the country at the end
of May - beginning of June after the required procedures are observed
in Armenia, he said.
Earlier, Armenian Premier Tigran Sargsyan said that the entire
stabilization loan will be spent on anti-crisis measures to ensure
economic growth in Armenia.