RUSSIA, ARMENIA SIGN PRELIMINARY AGREEMENT ON STABILIZATION CREDIT

ARKA
Feb 9, 2009

YEREVAN, February 9. /ARKA/. Russia is to provide AMD 500 million to
Armenia as stabilization credit.

According to the information placed on Armenian Finance Ministry’s
website, the two countries’ governments have already signed a
preliminary agreement.

Under the preliminary agreement, the credit is to be extended for 15
years with four-year preferences.

The agreement doesn’t imply fulfillment of non-financial obligations
by Armenia.

Comparing with current credit conditions on the world market, the
credit will be extended on relatively favorable terms.

On February 5, Russian Finance Minister Alexey Kudrin said that Russia
is ready to support neighboring countries.

Belarus has already received the first tranche of the $1-billion
stabilization loan and Kyrgyzstan is waiting for the promised
2 billion.

Kudrin said then that Russia will lend $500 million to
Armenia.