Yerevan /Mediamax/. Minister of Finance of Armenia Tigran Davtyan confirmed that Armenia is in process of negotiations with Russia on attracting a stabilization loan.

Mediamax reports that Tigran Davtyan said in an interview to Reuters that Armenia is in process of negotiations with Russia, as well as with the World Bank, Asian Development Bank, European Bank for Reconstruction and Development (EBRD) on attracting a stabilization loan at the total sum of “a few hundred millions of dollars”.

“We have asked our main financial-economic partners to provide us additional aid from abroad for us to be ready to neutralize the possible influence of the global crisis”, the Minister stated.

According to Tigran Davtyan, the received means will be directed to support Armenian economy, particularly small and medium enterprises. The Minister specified that “the negotiations with the World Bank, Asian Development Bank and Russia are coming to their end”, adding that the negotiation with EBRD are still in process.

On January 22, the Vice-Prime Minister, the Minister of Finance of Russia Alexander Kudrin stated that Armenia has turned to Russia to receive a stabilization loan to mitigate the consequences of the global crisis. “We are now in process of negotiations with Armenia”, he stated.