Armenia's mining industry to receive $44 million.

PanARMENIAN.Net - The purpose of the government sitting in Syunik region is to find solutions to current problems of the region, RA prime minister Tigran Sargsyan said. Members of the Armenian Government familiarized with the social and economic situation of the region.



After the governor of Syunik Suren Khachatryan presented a report, members of the government started discussing the regional issues on the agenda. The prime minister made a decision to approve the program on Syunik social economic development over 2010-2013. To intensify the metal mining industry of the region the Armenian government made a decision to provide with loans 'Zangezur Мining' (for 5 year term), 'Armenian Мmolybdenum Production' (for a 5 year term) and 'Agarak Copper Molybdenum Plant' (for a 4 year term). On the whole, 44 million dollars will be allocated from the state budget. The Prime minister particularly mentioned, that the amount is provided from the Russian credit and will help to improve social and economic life of Syunik region and to alleviate the consequences of the global financial crisis.