ARMENIA TO SEEK $100 MILLION RUSSIAN LOAN TO BOOST DIAMOND CUTTING INDUSTRY
ARKA
December 25, 2009
Yerevan
YEREVAN, December 25, /ARKA/. Speaking at a final news conference
this year Armenian prime minister Tigran Sarkisian said today Armenia
will seek a $100 million Russian loan to boost the diamond cutting
industry. He said the government has sent a relevant application to
Russian partners.
Sarkisian said the allocation of the loan depends on the success of
the talks with Russian Alrosa, one of the biggest diamond producers
in the world. He said the burden to repay the loan will be on
private companies, whose representatives are negotiating the loan
with Russians.
According to the prime minister, Armenia will not seek other loans
from Russia next year. The prime minister said 35 billion Drams of the
$500 million Russian loan received earlier this year, were directed
to the rehabilitation of the earthquake zone, 90 billion Drams were
allocated to the Central Bank, small and medium-sized enterprises,
to stimulate export, tourism development and creation of new jobs.
Another 54 billion Drams are in the Central Bank’s stabilization fund.