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Montenegro

WITH A WORLD BANK GUARANTEE 20. 05. 2020.   >>  19:20 0

WITH A WORLD BANK GUARANTEE

EUR 250 million loan approved

The Ministry of Finance has completed the procedure of securing a loan of EUR 250 million with a World Bank guarantee worth EUR 80 million, the Director General of the Treasury Directorate Dragan Darmanovic told Radio Montenegro.

He said that a credit arrangement has been concluded with the Trade Union of Banks, which, he pointed out, has provided 250 million from 350 to 400 million, which is an estimate of how much the state treasury would lack to repair the consequences of the coronavirus epidemic.

"The amount has already been withdrawn and the money is in Montenegro, so funds have been provided to finance all needs from the budget. So,there is no fear that there could be problems for the realization of obligations. The loan was approved for 12 years, and the interest rate is 3.63 percent," stated Darmanovic.

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