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Russia's small loan offends Armenians

02 June 2014 [16:40] - TODAY.AZ
By AzerNews

In Armenia, people are angry with Russia's decision to give a new loan to their government as they view it as humiliating.

Armenians are seriously disappointed with Prime Minister Ovik Abramyan's agreement with his Russian counterpart on a small loan of $300 million.

Russia's loan has become the key topic of discussion in the local media, which have issued alarming headlines such as "Armenia is very cheap."

"Russia has set a price for Armenia," local media wrote.

"Russia appraised Armenia at $300 million," media report said. "After the summit of the Eurasian Economic Union in Astana, Russia allocated $1 billion to Belarus, $1.2 billion to Kyrgyzstan, and only $300 million to Armenia."

The report further noted that Armenia has lost face in international arena.

"The Armenian authorities need the funds to ensure payments and prevent social unrest," media report noted.

Armenia will use Russia's loan to modernize its outdated Metsamor nuclear power plant, which is a real nuclear threat for the region.

Built in 1970, it was closed down after the devastating earthquake in Spitak in 1988, but resumed its operation in 1995 despite international outrage.

The international community and regional countries like Azerbaijan, Turkey, and Georgia have repeatedly urged Armenia to close the dangerous power plant immediately.

The European Commission recently called Armenia to work towards the earliest possible closure of the Metsamor NPP, but Armenia does not attach any particular importance to nuclear safety.

Armenia intends to operate Metsamor NPP, which does not meet current safety standards, till 2026.

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