ARMENIA DISCUSSING NEW LOAN WITH RUSSIA – PREMIER

Itar-Tass
Dec 25 2009
Russia

The Armenian government is holding negotiations with Russia on a new
loan, Prime Minister Tigran Sargsyan told a Friday press conference.

"We asked Russia for a $100 million loan. The loan will be spent
exclusively on the development of jewelry business in Armenia,"
he said.

"If the negotiations are successful and a deal is signed with
Russia’s ALROSA, Armenia will open a diamond exchange and supply
Russian diamonds to local jewelry factories," he said.