Wednesday, November 1 2017 11:20

ArmInfo. Moscow will soon  supply Yerevan with a batch of weapons under the current contract,  the implementation of a new, already signed 100 million loan  agreement will begin after the completion of all interstate  agreements. This was stated by RIA Novosti Armenian President Serzh  Sargsyan.

"Until the end of this year, we will implement another agreement, the  other day we are waiting for new supplies, and by the end of the year  we will close all the issues related to the previous agreement.We  already signed a new agreement in Yerevan, it must pass all Russian  and Armenian authorities, then - the ratification procedure, and  after that we will start working with the relevant producers from the  Russian side to implement this program. "So fast it does not work,  unfortunately," the Armenian president added.

Recall that according to the draft agreement, which the Armenian  government approved on October 12, Russia will provide Armenia with a  loan for a period of 20 years, of which the first five years at a  discounted 3 per annum. At the same time, the share of Armenia's  co-financing will be 10 of the total cost of the program. Based on  the loan agreement, separate agreements will be concluded between the  Armenian Ministry of Defense and Rosoboronexport OJSC on the order  and timing of deliveries of arms and military equipment. Repayment of  the principal amount of the loan is scheduled to begin on May 15,  2023 and be completed on May 15, 2037. In the first six years,  Armenia will annually repay a loan of 1.5 million, after which the  amount of deductions will increase to 3.6- 3.8 million.

Previously, Moscow has already provided Armenia with a loan of 200  million for a period of 10 years.  Yerevan uses these means to  purchase launchers of the Smerch multiple rocket launcher and its  ammunition, the Igla-S missile system and its missiles, the Avtobaz-M  ground reconnaissance systems, the TOS-1A heavy flamethrower systems  Solntsepek "with transport-loading machines TZM-T, guided missiles  9M113M, RPG-26 grenade launchers, B-429E fuses, Dragunov sniper  rifles (SVD), armored vehicles, Tiger armored vehicles, engineering  equipment and communications equipment. In addition, Russia supplied  Armenia with the Iskander missile system. According to the interim  expenditure program for 2018-2020. Armenia plans to increase military  spending by 60 million annually. The aim of Yerevan is to increase  the level of military spending by 4 of GDP. At present, Armenia's  military expenditures are around 3.6 of GDP - about 450  million.