MOSCOW - Russia has granted a $1 billion (682-million euro) loan to Venezuela to buy Russian arms, the Kremlin said in a statement Sept. 25, ahead of a visit by Venezuelan President Hugo Chavez.
"Russia has taken the decision to grant Venezuela a credit of one billion dollars for implementing programs in the field of military-technical cooperation," the statement said, using diplomatic jargon for arms sales.
Venezuela has been asking for the loan for months, according to Russian media reports.
The Kremlin said Venezuela has signed 12 arms contracts with Russia since 2005 for a total value of $4.4 billion (3 billion euros).
Venezuela has bought Russian fighter jets, tanks and assault rifles and wants to buy anti-aircraft systems, armored personnel carriers and more combat aircraft, the Kommersant daily reported earlier, quoting Russian officials.
Chavez was due to meet Prime Minister Vladimir Putin on Sept. 25 and will hold talks with President Dmitry Medvedev on Sept. 26 on his third visit to Russia since June 2007.
The Army's Future Combat Systems (FCS) program is ready to test a few components that soldiers may have in their hands by 2010.
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