Source: Energetski portal | Tuesday, 29.01.2019.| 14:12
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Waste water treatment project worth EUR 50.35 million in Podgorica soon

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Illustration (Photo: gameanna/shutterstock.com)
The Government of Montenegro has adopted the Information on the Signing of the Agreement on the Forwarding of Credit and Grant Proceeds for the Realization of the “Collection and Treatment of Waste Waters in Podgorica” Project, financed with the proceeds from the credit arrangement signed on September 22, 2017, between the German development bank KfW and the Government of Montenegro in the amount of EUR 35 million.

On this occasion, the Government of Montenegro authorized the City of Podgorica to use proceeds from the credit arrangement with KfW and accepted the Agreement on the Forwarding of Credit and Grant Proceeds for the Realization of the “Collection and Treatment of Waste Waters in Podgorica” Project.

The amount of EUR 26 million will be transferred to the City of Podgorica without the obligation of repayment, whereas the city will be obliged to repay the remaining amount of EUR 8,050,000 to the state.

The total value of the project is around EUR 50.35 million. It will be financed from three sources – a grant of EUR 10.15 million from the Western Balkans Investment Framework (WBIF), a loan from KfW of EUR 35 million and Podgorica's own funds in the amount of around EUR 5.2 million.
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