Armenia Signs Credit Agreement with Exim Bank

WASHINGTON–(RFE/RL)-Armenia’signed an agreement with the US Export-Import Bank which lays the foundation for financing of American exports to Armenia.

The Project Incentive Agreement provides a framework for financing the purchase of US exports–with the loans to be repaid with revenues generated by production from the enterprise buying the American goods or services.

The agreement was signed in Washington by Armenian Minister of Finance and Economy Armen Darbinian and the Chairman of Exim Bank James Harmon.

Harmon said the pact will help build a solid trade relationship between the two countries and facilitate financing for the sale of products to creditworthy projects.

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