YEREVAN. – At Thursday’s Cabinet meeting, the government of Armenia approved the agreement on a $100mn defense loan from Russia, and forwarded it to the parliament for ratification.
Under this document, Russia will provide a 20-year state export loan to Armenia, in order to fund the supply of Russian-made military products to the country.
The Armenian government’s respective rationalization states that this new agreement is in line with Armenia’s strategic interests, and it will serve the objective of enhancing the country’s security.
In June 2015, Armenia signed a $200mn loan agreement with Russia, so as to purchase Russian-made weapons.