The total amount (USD700mln) of Armenia's state bonds (Euro bonds) issue was transferred to the accounts of the Armenian government on September 30.

Armenian Minister of Finance Davit Sargsyan said this today.

According to him, the bonds were bought by 152 investors. 42% of them are from U.S., 23% - UK, 17% - continental Europe and the remaining - from Russian and Asian markets.

"The list of investors is rather big and diversified", said the Minister.

Davit Sargsyan said that Armenia will use the sum of the Euro bonds issue to pay off the balance of USD500mln loan granted by Russia in 2009. Armenia already cleared off USD43.5mln from the Russian loan this year.

Around AMD60bln from the remaining amount from the issue of Euro bonds will be allocated to funding SME through German-Armenian Foundation: around AMD3.9bln will be allocated to the SME state credit organization through and AMD 1.9bln to the insurance structure for funding export through the Central Bank of Armenia.

The rest of the sum will be allocated to handling Armenia's public debt.