YEREVAN, JUNE 29, NOYAN TAPAN. Within the framework of its anticrisis measures, the Armenian government will provide credits of 44 million USD to three big enterprises in mining industry - Armenian Molybdenum Production and the copper and molybdenum enterprises in Zangezur and Agarak. RA Minister of Finance Tigran Davtian said at the June 26 sitting of the government held in Syunik marz that in this way the government will promote the mining industry and encourage the operation of companies having great export potential. According to the minister, Armenian Molybdenum Production and the Zangezur copper and molybdenum enterprise will receive 15 million USD each, while the Agarak enterprise will be given 14 million USD, with a repayment period of 4-5 years. The Ministry of Finance will sign security agreements with these companies, and their production spaces and the equipment to be purchased with credits are given as a security. Prime Minister Tigran Sargsyan said that these are quite considerable sums and will be allocated by the Russian side. In his opinion, this will create activity in the life of Syunik marz (province) and give impetus to the work of the indicated enterprises, helping them overcome the temporary difficulties due to the crisis. According to the prime minister, the Armenian commercial banks cannot give large amounts of credits as they are not capitalized to such a degree, and for that reason considerable credits are provided by the state. He attached importance to public control of this process.

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