Stabilization credit for Armenia

Russia has promised to issue USD 500 million to Armenia as a stabilization credit, but only after the Russian Federation adopts its state budget. Russian PM Putin stated this at a meeting with his Armenian counterpart Tigran Sarkisian, who thinks that this amount will assist his country to overcome its crisis. Sarkisian says that this amount will facilitate the positive functioning of enterprises active in Armenia and financed by Russian capital.

Putin assessed 2008 as a successful year. trade turnover between Russia and Armenia increased by 10% to USD 900 million. Russia has already invested USD 1.8 billion in Armenia.

The credit of USD 500 million will be issued for 15 years and Armenia will start repaying it four years after receiving it.