The Russian Government and Armenian authorities signed an agreement on providing export loan in the amount of $200 mln for ten years on a deferred basis till the beginning of 2018, the official legal information portal reports.    

The loan has been allocated for the delivery funding of the Russia-produced military equipment, Interfax reports.

According to the Agreement Annex, Armenia purchases from Russia “Smerch” multiple rocket launcher with its ammunition, “Igla-S” air defense system, Autabase-M ground-based communication surveillance system, TOS-1A multiple rocket launcher with transloaders, 9M113M guided projectile, RPG-26 grenade launcher, Dragunov sniper  rifles,  combat car “Tiger,”  engineer assets and communication gears.

This list can be changed upon the mutual written agreement between Russia’s Federal Service for Military-Technical Cooperation and Armenian Defense Ministry, the statement reads.

 

 

The Armenian side can use the loan for the funding of up to 90 percent of the production provided by each agreement.

The pre-delivery payment, which is no less than 10 percent of the cost of each contract, will be made in favor of the authorized Russian organizations in Russian ruble.