Turkey, Russia sign missile system loan deal

ANKARA: Turkey and Russia have inked a loan agreement in Ankara for purchase of the S-400 missile defence system worth $2.5 billion, a Turkish official said. Russia will provide Turkey with four batteries of S-400 surface-to-air missile system under the deal and the latter will pay 45 per cent of the cost up front with Moscow providing loans to cover the remaining 55 per cent, Xinhua news agency reported on Friday. The two countries had reached an agreement for the purchase, but have been discussing on a loan provided by Russia.