Russia to give $500 mln stabilizing credit with LIBOR+3% rate to Armenia

2009-02-28 19:08:00

ArmInfo. Russia will give $500 mln stabilizing credit with LIBOR+3%
rate to Armenia, Armenian Prime Minister, Tigran Sarkisyan, said when
replying to ArmInfo correspondent’s question.

He also added the credit will be given to Armenia on easy terms, in
particular, for 14 years with an easy term period for 4 years. "This is
a state credit – financial duties of the Armenian government against
the Russian government. We have a right to decide independently how to
spend the funds and are only financially responsible for the credit", –
Sarkisyan said. He also added that the credit is of the great
significance for Armenia in the matter of fulfillment of effective
anti-crisis measures. He also said that the credit funds will be spent
for the programmes that will provide creation of new job places.
Sarkisyan said that the relevant contract on this credit will be signed
by finance ministers of the two states.

To recall, preliminary agreement on giving Armenia the stabilizing
credit $500 mln was signed between Armenia and Russia on 9 February
2009.