YEREVAN. – The Russian government will allocate a loan amounting up to $200 million to Armenia to purchase Russia-produced modern weaponry, Deputy Defense Minister Ara Nazaryan said in the parliament on Thursday.
The loan will be provided for 13 years with favorable terms of 3% for the first three years. At the same time Armenia will also fund the program in the amount of 10% of the total in the form of advance payments. Nazaryan noted that the Armenian side is using the loan for 2015 - 2017.
“This will allow Armenia buy modern weapons, thus ensuring a balance in the South Caucasus,” he added.