The Government of Montenegro plans credit arrangements of EUR 123.6 million

This year, the government will sign credit arrangements in the amount of up to EUR 123.6 million or they will become effective, as it is stated in the Draft Law on Budget for this year, Vikend novine writes.

The proposed budget law envisions EUR 10 million loan agreement with the Council of Europe Development Bank (CEB) to finance the fifth phase of the Thousand Plus housing project.

The government should also agree with the CEB on EUR 30 million for additional financing of companies, as well as a loan of EUR 15 million for the construction of a prison in Mojkovac.

- A total of EUR 40 million will be agreed with the European Bank for Reconstruction and Development (EBRD) for the highway reconstruction project. The amount of up to EUR 15 million will become additionally effective - it is stated in the Budget Proposal.

EUR 15 million should be agreed with the World Bank (WB) for the Covid-19 emergency support project. Due to the financing of the second phase of the project for cleaning and management of industrial waste, the government will ask for 24.6 million from the World Bank.

- For the needs of financing the project of general overhaul of the railway, rehabilitation of bridges and modernization of depots and workshops, for which the creditor will be determined during the year, up to EUR 14 million will be requested - the proposed document states.

Government of Montenegro

Council of Europe Development Bank

World Bank

Draft Law

credit arrangements