April 24, 2016 - 15:23 AMT
Prime Minister: No financial difficulties in equipping Armenian army

Prime Minister Hovik Abrahamyan refuted suggestions Yerevan might experience difficulties equipping the Armenian army.

“The issue is beyond discussion. We have no financial difficulties whatsoever in equipping the army,” he told reporters at Tsiternakaberd memorial.

Asked about the stage the relevant agreements are in, the official assured that no problems are to be expected, with the process following a normal course.

At a July 2 extraordinary session, Armenian National Assembly ratified the agreement on the provision of a $200 million concessional export loan by Russia to Armenia. The loan will be used to widen considerably the range of modern weapons of the Armenian armed forces.

When presenting the agreement at the parliament, Deputy Defense Minister Ara Nazaryan said that under the agreement, Russia-made military production will be purchased in 2015-2017.

The loan is provided at an annual interest rate of 3% for 13 years, with a 3-year grace period, he said.

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