YEREVAN. – The Government of Armenia must create reliable conditions for investors, Prime Minister Tigran Sargsyan noted at a press conference on Friday. 

Sargsyan reflected on the controversial provision, which is included in the recently signed Armenia-Russia natural gas deal, pursuant to which Armenia shall not adopt any decisions that could jeopardize the interests of investors.    

“We are obligated to give such guarantees because people are making investments in the vital structures of our country. There must be guaranteed game rules for investors; we must consider their interests.

“[But] there is no risk to [Armenia’s] sovereignty; there is a risk to sovereignty when they do not create sufficient conditions for investors,” the PM said.      

Sargsyan also spoke about the Eurobonds which Armenia had issued. As per the premier, this showed Armenia’s creditworthiness, that international investors stand ready to provide up to $3 billion to the country. In addition, according to the PM, Armenia’s place on the political map was recorded for the investors.

And as to why Armenia first repaid the loan from Russia, Sargsyan explained that this was the largest loan, and all calculations showed that Armenia will have a financial income. According to the premier, thanks to this deal, it became possible to make additional savings worth 10 billion drams (approx. $24,652,687).

“We found ourselves in an economically advantageous environment. And the remaining loans are with more favorable terms; the grant element is much larger,” Tigran Sargsyan added.