RF Deputy Minister: financial institutions of Russia, Armenia are  expanding  network of correspondent relations

ArmInfo. Very good progress has been made in the relations between Armenia and Russia this year. This was announced on December 26 at a press conference by Dmitry  Volvach, Deputy Minister of Economic Development of the Russian  Federation, speaking about the growth in the volume of mutual trade  in national currencies.

According to the deputy minister, the financial institutions of the  two countries, trusting each other, are expanding the network of  correspondent relations. In the summer, trading in the Armenian  national currency was opened at the Moscow Interbank Currency  Exchange, which in the very first weeks gave a very serious increase  in volumes. "This means that the presence of this currency on the  foreign economic activity accounts of our operators is in demand in  order to serve the real trade turnover, which has grown very  seriously. So, here we are doing everything right>, Volvach noted

He also added that within the framework of the EAEU, next year Russia  will try to launch a mechanism for subsidizing interest rates on  attracted loans for the development of industrial cooperation among  the five countries. The projects will be financed from the EAEU  budget. As the operator of the project, it is planned to establish a  consortium with the participation of at least three participants. "I  am sure that not only Armenian projects, but also Kyrgyz, and  Belarusian, and Kazakh projects will receive proper and equal  funding," the deputy minister noted.