EBRD mulls providing EUR 9.1mn loan for yacht repair facility in Montenegro.

By bne IntelliNews August 22, 2012
The European Bank for Reconstruction and Development (EBRD) said it is considering providing a EUR 9.1mn loan to Montenegro Yacht Repair, a joint venture between Montenegro's Adriatic Marinas and an international yacht repair specialist. The loan will be used to finance part of the construction and development costs of a yacht repair facility within the existing Adriatic Shipyard in Bijela. The total estimated project cost is EUR 16mn. The project will have a significant impact on the services sector in Montenegro as it will create a new market which to support the tourism industry in Montenegro, the EBRD said. It is also expected to promote SME activity through expansion of backward linkages to suppliers and other businesses. Adriatic Marinas is the owner and operator of Porto Montenegro, the marina in Tivat. A yacht repair specialist company will be the operator of the repair facility, and will be engaged in the daily operations and management of the facilities.

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more

Montenegro reports increased budget revenue in Q1.

Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more

Mobile phone penetration in Montenegro drops to 155.5% in Feb 2013.

Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335