Russia will provide financial assistance to Armenia to extend the duration of the operation of the energy unit of Armenia’s nuclear power plant.

Russian Foreign Minister Sergei Lavrov noted the abovementioned on Wednesday, at the end of his meeting with Edward Nalbandian, the Minister of Foreign Affairs of Armenia.

“We plan to collaborate with our Armenian partners,” Lavrov also said, reported RIA Novosti news agency of Russia.

Armenia and Russia had signed an intergovernmental agreement on extending the lifetime of the second energy unit of the aforesaid nuclear plant. Accordingly, the necessary work will be carried out through the loan provided by the Russian side. The Russian government, for its part, had approved a $270 million loan to Armenia, and for a fifteen-year term. The respective work is scheduled to start in 2017.