REPUBLIC OF ARMENIA TO PROVIDE 1 BILLION DRAM-CREDIT TO NAGORNO KARABAKH REPUBLIC
Noyan Tapan
Nov 8, 2007
YEREVAN, NOVEMBER 8, NOYAN TAPAN. Under the RA Law on the Budgetary
System of the Republic of Armenia, the Armenian government made a
decision to provide a budgetary credit of one billion drams (about
3.4 mln USD) from the 2007 state budget-envisaged governmental reserve
fund to the RA ministry of finance and economy. The decision was made
at the November 8 sitting of the government. NT was informed from
the RA Government Information and PR Department that the credit is
given with the aim of providing assistance to the Nagorno Karabakh
Republic. It has a 0.01% annual interest rate and is to be repaid by
January 1, 2010.