The Armenian Government approved the draft law on “Ratification of the Agreement between the Government of the Republic of Armenia and the Government of the Russian Federation on granting state export credit to the Government of the Republic of Armenia” at a session on Thursday.

Under the relevant agreement signed on 24 October 2017, Russia is set to provide a state export loan worth $100 million to Armenia to finance purchase of Russian-made weaponry by the country, Deputy Defense Minister Artak Zakaryan detailed.

According to the official, the draft law has been agreed with all the "all concerned bodies", and no proposals have been made over the document.

Back in June 2015, a $200 million agreement was signed between Armenia and Russia to finance supplies of Russian-made military products to Armenia.