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.