YEREVAN (Public Radio of Armenia) – Moscow will supply a new batch of weapons to Armenia in the near future under a $200 million agreement signed in 2015. The implementation of a new $100 million loan agreement will start after all interstate arrangements are in place, Armenian President Serzh Sarkisian said in an interview with RIA Novosti.
“Until the end of the current year, we will be implementing the previous agreement,” said Sarkisian. “We are waiting for new supplies in the coming days.”
“We have signed a new agreement, which has to pass through all instances in Armenia and Russia and then be ratified. After that we’ll start working with Russian producers to implement the program,” continued Sarkisian.
According to the draft agreement, which the Armenian government approved on October 12, the Russian Federation will provide the Armenian side with a state export loan to finance the supplies of military products of Russian production.
The Armenian side will use the loan to cover up to 90% of the cost of each contract for the supply of products, calculated in dollars.
The loan will be issued with a maturity of 15 years at 3% per annum. Armenia should use credit funds between 2018 and 2022.
Meanwhile, in the interview with RIA Novosti, Sarkisian added that the Comprehensive and Enhanced Partnership Agreement between the European Union and Armenia does not provide for the closure of the Armenian Nuclear Power Plant.
“In the draft agreement, this paragraph is formulated by default, taking into consideration the objective lifetime of the Metsamor Nuclear Power Plant,” said the Armenian President.
“In March 2014, the Armenian government made a decision to extend the lifetime of thepower plant. The program will be funded by the Russian state export credit amounting to $270 million and a $30 million grant,” Sarkisianadded.
The Armenian side is working jointly with “Rosatom” State Corporation in this regard. According to Sarkisian, the nuclear power plant is functioning in full compliance with the specialized international institutions, however, measurers are still being taken to improve operational safety and modernization.
He also noted that the nuclear power plant will work at least until 2027 and added that Armenia will always use atomic energy for security reasons.
The President stated that the plant will not be closed down after Armenia signs a new deal with the European Union.