Armenia, Russia negotiating new $100 mln military loan deal

Armenia, Russia negotiating new $100 mln military loan deal

Armenia and Russia are negotiating a new military loan agreement worth $100 million, Armenian Defense Minister Davit Tonoyan told reporters on Wednesday, September 12, PanARMENIAN.Net reported citing Aysor.am.

Tonoyan was asked whether new arms deliveries from Russia and military contracts with Moscow are planned in the near future.

“The process is underway, but I can’t disclose the types of weapons under the deals,” Tonoyan was quoted as saying.

“More information will be provided when the time comes,” the Minister said, adding that cooperation with Russia is “pretty successful.”

In November 2017, the Armenian government approved an agreement on a $100 million Russian loan to finance deliveries of defense products from Russia. Under the agreement, the loan issued at a three present interest rate is to be used in 2018-2022.

As reported earlier, the Armenian Armed Forces have received all the weapons and ammunition envisioned under a $200 loan agreement with Russia, signed in June 2015.

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