EBRD mulls lending EUR 4mn to Montenegro for renewable energy.

By bne IntelliNews July 21, 2011
The European Bank for Reconstruction and Development (EBRD) may provide a sovereign loan of up to EUR 4mn to Montenegro to finance a renewable energy project in the city of Plevlja, mnnews.net reported. The project, which is estimated at EUR 6.5mn aims to enable the use of biomass from wood waste for the heating of residential buildings and to extend the district heating system in the city. The project is expected to result in significant reductions in carbon dioxide emissions and will be implemented by Montenegro's national implementation agency for environment infrastructure projects, Procon. The project will be funded by the EBRD loan and a grant from the EU Western Balkan Investment Framework.

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