AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 2 July 2015, theArmenian National Assembly ratified the agreement for the provision of an export loan by Russia to Armenia. The loan's amount is USD 200 million. It will be used to widen the variety of modern weapons of the Armenian armed forces. The loan is provided for 13 years at an annual interest rate of 3% and with a 3-year grace period.
'We will buy arms which the Armenian armed forces have not had in their arsenal so far,' the Deputy Minister of Defense, Mr Ara Nazaryan, said. He added that a concrete list of weapons was submitted to the members of parliament but its content is confidential. The Armenian state will use the loan in 2015--2017.
According to UN Comtrade, Armenia does not have trade flows above one million USD concerning the indicated tariff lines.
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