A $100 million defense loan agreement with Moscow will be signed by Yerevan until the next year, Armenian Ambassador to Russia Vardan Toghanyan told RIA Novosti.
“The Armenian government approved this agreement, but there is no specific date for signing. But, I hope, until the new year,” said Toghanian.
According to the draft agreement, which the Armenian government approved on October 12, the Russian Federation will provide the Armenian side with an export loan to finance the supply of military products of Russian production.
The Armenian side uses the loan to finance up to 90 percent of the cost of each contract for the supply of products calculated in dollars. The prepayment should be at least 10 percent of the contract value.