Russia To Provide Loan For Updating Of "Nairit"

RUSSIA TO PROVIDE LOAN FOR UPDATING OF “NAIRIT”

ARMENPRESS
OCTOBER 27, 2011
YEREVAN

Russia has agreed to provide to Armenia USD 400 million loan from
EurAsEc foundation. The negotiations over this issue were going on two
years, Armenpress reports, citing “Izvestia” that the Russian Finance
Ministry has confirmed the document on providing means for updating of
“Nairit” and neighboring enterprises. The Official Yerevan only has to
present an application, and the process will wrap up within 1-2 months.

The money will be extended to Armenia in 3 tranches: with the first
– 125 million for paying off the debts of the factory, and with the
second and third – for its updating.

From: Emil Lazarian | Ararat NewsPress

Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.

Direct link to this article: https://www.armenianclub.com/2011/10/28/russia-to-provide-loan-for-updating-of-nairit/

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS