NATIONAL ASSEMBLY RATIFIES TWO INTERNATIONAL AGREEMENTS

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NOYAN TAPAN
June 11, 2008

YEREVAN, JUNE 11, NOYAN TAPAN. The RA National Assembly on June 11
ratified the Agreement on Social and Legal Guarantees of the CIS
Peace Keeping Collective Forces Personnel signed in Dushambe on
October 9, 2007.

The parliament also ratified the May 27, 2008 credit agreement on
an amendment to the credit agreement between the Armenian government
and the Japan Bank for International Cooperation on the project of the
power unit with a combined steam-and-gas cycle in Yerevan. According to
the RA minister of energy Armen Movsisian, by the previous agreement
signed in 2005, a credit of 15.918 billion yens was provided for
implementation of the power unit project. Taking into account the
considerable growth in prices of equipment, building and assembly
work in international market in 2004-2007, the Japanese government
agreed to provide an additional credit of 10.491 billion yens. The
additional credit is concessional, with a 0.75% interest rate and a
repayment period of 40 years, including a 10-year grace period.