Aysor, Armenia
May 22 2010

Armenia applies to EEC for $1 billion loan

The Eurasian Economic Community (EEC) is considering Armenia’s
application for a loan to build a railway connecting Armenia and Iran,
Russian Prime Minister Vladimir Putin said.

`From the economical point of view this is not a simple project.
However, Armenia has applied for more than a billion dollar loan to be
provided by the EEC. The application is being considered,’ Vladimir
Putin told the MIR Broadcasting Company.

Interfax said that the project’s goal is `to give Armenia a way to the
Iranian border by rail, not for connecting Iran and Russia.’