Newspaper: Nagorno-Karabakh Republic to use loan extended by Armenia for implementing economic development programs
YEREVAN, September 8. /ARKA/. Nagorno-Karabakh Republic will use the loan extended by Armenia for implementing economic development programs, the NKR Prime Minister Araik Harutyunyan said in an interview with Chorrord Ishkhanutyun.
The Armenian government decided to lend AMD 9.6 billion ($20 million) to Nagorno Karabakh on August 18, 2015 and will transfer the money in the third quarter of this year on condition of lump-sum repayment before September 2020.
The loan is extended at 8.5% annual interest rate and it is secured by the Nagorno-Karabakh government budget.
The money will be spent on supporting small and mid-scale businesses and farms and on developing infrastructures.
Harutyunyan said the financing will be provided to the programs able to ensure repayment effectiveness. ---0---
The Armenian government decided to lend AMD 9.6 billion ($20 million) to Nagorno Karabakh on August 18, 2015 and will transfer the money in the third quarter of this year on condition of lump-sum repayment before September 2020.
The loan is extended at 8.5% annual interest rate and it is secured by the Nagorno-Karabakh government budget.
The money will be spent on supporting small and mid-scale businesses and farms and on developing infrastructures.
Harutyunyan said the financing will be provided to the programs able to ensure repayment effectiveness. ---0---