RUSSIA TO PROVIDE $500 STABILIZATION LOAN TO ARMENIA

Prime-Tass English-language Business Newswire
March 2, 2009 Monday 2:42 PM EET
Russia

The Russian government will provide a U.S. $500 million stabilization
loan to Armenia at an annual interest rate of 3% over Libor, Armenia’s
Prime Minister Tigran Sargsyan told reporters Monday.

The loan will be provided for 14 years and will have a 4-year grace
period, Sargsyan said.

Funding for the loan has been allocated in the amendments to Russia’s
2009 federal budget that are expected to be approved soon by the State
Duma, the Russian parliament’s lower house, Russian Prime Minister
Vladimir Putin said, ITAR-TASS reported.

Armenia plans to use the funds to cope with the financial crisis,
including to fund programs aimed at the creation of new jobs,
Sargsyan said.