ARMENIA HOPES TO SIGN $500 MLN LOAN DEAL WITH RUSSIA IN LATE FEB-EARLY MARCH

Interfax
Feb 10 2009
Russia

Armenia hopes that an agreement on a $500-million loan granted by
Russia will be signed with this country in late February – early March,
the country’s Finance Ministry told Interfax.

The loan will be granted for 15 years with a four-year grace period
in order to mitigate the effects of the economic crisis. The loan
interest rate is not being disclosed. The loan will be granted at
relatively soft conditions, a press officer said.

According to the country’s Finance Ministry, a preliminary agreement
to grant a loan to the republic was signed between the Russian and
Armenian governments in Moscow on January 29, 2009.