Armenia to get $300 mln privileged credit from Eurasian Fund for Stabilization and Development

The Eurasian Fund for Stabilization and Development, where Russia holds the largest share, will provide a $300 million privileged credit to Armenia, Russian Deputy Minister of Finance Sergey Storchak told reporters. Armenia had applied for more, he said.

“The Council of Fund, which convened recently, made a political decision on the provision of the credit,” Storchak said, TASS reports.

Belarus was the first country to receive a privileged credit from the Fund.

Storchak said the loan will be granted on standard terms. “As far as I understand, it’s about 1% annually,” he noted.

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