REPUBLIC OF ARMENIA TO PROVIDE 1 BILLION DRAM-CREDIT TO<br /> NAGORNO KARABAKH REPUBLIC <br />


REPUBLIC OF ARMENIA TO PROVIDE 1 BILLION DRAM-CREDIT TO
NAGORNO KARABAKH REPUBLIC

  • 08-11-2007 22:40:00   | Armenia  |  Economy
YEREVAN, NOVEMBER 8, NOYAN TAPAN. Under the RA Law on the Budgetary System of the Republic of Armenia, the Armenian government made a decision to provide a budgetary credit of one billion drams (about 3.4 mln USD) from the 2007 state budget-envisaged governmental reserve fund to the RA ministry of finance and economy. The decision was made at the November 8 sitting of the government. NT was informed from the RA Government Information and PR Department that the credit is given with the aim of providing assistance to the Nagorno Karabakh Republic. It has a 0.01% annual interest rate and is to be repaid by January 1, 2010.
  -   Economy