Armenia has been provided with $500 million worth Russian credit, Armenia’s finance minister Tigran Davtyan said at the government sitting., adding that credit agreement has already came into force.
On June 11 the $500 million worth Russian stabilizing credit was transferred to the Armenian side, press office of RA ministry of finance reports.
On May 20 Armenia’s and Russia’s finance ministers Aleksey Kudrin and Tigran Davtyan signed an agreement on providing Armenia the 15-year loan to support the Armenian economy during the crisis. Credit, which Armenia receives in one tranche, is provided at a reduced rate, approximately 4 per cent annually with a five-year preferential period.
