Economy
16:46 20/05/2009
RUSSIA GRANTS $500 MILLION LOAN TO ARMENIA
Moscow grants Yerevan $500 million loan to contribute to the improvement of the Armenian economy amid the ongoing economic crisis, Russian media reports. The agreement to extend the 15-year loan at LIBOR plus 3% was signed by Russian Finance Minister Alexei Kudrin and his Armenian counterpart Tigran Davtyan in Moscow.
Russian minister Kudrin said that the loan was granted on concessional terms, with interest at about 4% per annum, a reflection of the current market situation. "We'll grant a five-year grace period, during which only interest will be paid," Kudrin said.
Armenian minister of economy emphasized that the loan would be of great significance for the Armenian economy during the crisis.
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:
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