Montenegro: EBRD pours EUR 100 m in Montenegro

, Investors

The European Bank for Reconstruction and Development (EBRD) will pour this year EUR 100 m in developmental projects in Montenegro and half of the amount was planned for construction of wind-driven electric power plants at Krnovo at Niksic.

The head of the EBRD office in Montenegro, Giulio Moreno said for Podgorica portal “Analitika” the bank will fund construction of some smaller hydro power plants as well as reconstruction of the airport in Tivat.

EBRD, is also announcing “huge investment” in trading company “Voli”, as explained, for supporting purchase of agricultural products in Montenegro.

Moreno announced that tender for construction of cable car from Kotor to Lovcen will be released soon.

According to Moreno, this year, Montenegrin economy will generate growth of 3,5% which is forecast of both the Government and the Central Bank of Montenegro.

Moreno explained that EBRD is not the bank of the European Union but regional bank which operates as a revolving fund with 30 billion of “authorized capital”.

Source; Agency

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