Customs Today Newspaper
March 21 2015
China to give $25.3m loan to Armenia for upgrading customs system
Reported by: `Customs Today Report March 21, 2015
BEIJING: China will give $25.3 million (155.5 million yuans) loan to
Armenia for upgrading of customs control system.
Armenian government approved the signing of an appropriate agreement.
Pavel Safaryan, Armenian deputy finance minister, will acquire
necessary equipment from China.
An equipment supply contract will be signed with China’s Nuctech
Company, he said. It will imply portable x-ray scanner for detecting
explosives, weapons, drugs and other things with high smuggling risk.
According to the draft agreement the loan will be extended by the
Export-Import Bank of China. The loan will be repaid in the Chinese
yuan.
The loan is extended for 20 years with a five-year grace period at 2%
interest rate with 0.25% service fee.