Japan Extends Credit

YEREVAN (RFE/RL)–The Japanese government has granted Armenia a 5.39 billion yen low-interest loan (approximately $41.5 million) to develop and modernize the country’s energy system. Armenian Deputy Foreign Minister Armen Baiburtian and the head of the economic department of the Japanese Embassy in Moscow signed an agreement to that effect today in Yerevan. The loan is for a 30 year period–with a ten year moratorium on repaymen’s.

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