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Diamond News Center > Diamond News > World

Diamond News

Armenia in Negotiations with Russia for Jewelry Business Loan

27.12.09, 11:15 / World

At a press conference last Friday, Prime Minister Tigran Sargsyan disclosed that the Armenian government is in the middle of negotiations with Russia on a new loan designed to be used exclusively for the development of the jewelry business in Armenia.

If the deal goes through, the $100 million loan will assist Armenia in the opening of a diamond exchange that will be used to supply Russian diamonds to local jewelry factories.

By: Jodie Clements

More on this subject:

Russia Reports $1Bn in Rough Diamond Sales (02/12/09)

Diamond Creator LifeGem to Turn Michael Jackson's Hair into Diamonds (28/07/09)

Rough Diamond Conundrum Resolved between Russia and Armenia (05/06/08)