STABILIZATION CREDIT FOR ARMENIA

The Messenger
March 4 2009
Georgia

Russia has promised to issue USD 500 million to Armenia as a
stabilization credit, but only after the Russian Federation adopts
its state budget. Russian PM Putin stated this at a meeting with his
Armenian counterpart Tigran Sarkisian, who thinks that this amount
will assist his country to overcome its crisis. Sarkisian says that
this amount will facilitate the positive functioning of enterprises
active in Armenia and financed by Russian capital.

Putin assessed 2008 as a successful year. trade turnover between
Russia and Armenia increased by 10% to USD 900 million. Russia has
already invested USD 1.8 billion in Armenia.

The credit of USD 500 million will be issued for 15 years and Armenia
will start repaying it four years after receiving it.