Government of the Russian Federation and Armenian authorities have signed an agreement for state export loan.
According to the document, published officially on the internet, Russia gives Armenia credit of up to USD 200 billion to buy Russian arms and equipment.
The loan will be granted at 3% annual interest for 10 year period with payment deterred until February 2018. The loan will be used in 2015-2017 to finance up to 90% of each supply contract’s value with accounts to be made in RUR. Advance payments must amount at least 10% of each contract’s value and must be made by Armenian side in RUR in favor of authorized Russian organizations. Nomenclature of arms and equipment to purchase is listed in the annex of the agreement.
It is referred to separately that changes to the list might be made on written mutual consent of the FSMTC of Russia and ministry of defense of Armenia.
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