EBRD reportedly to extend EUR 102.2mn for 4 projects in Montenegro.

By bne IntelliNews October 29, 2010
The European Bank for Reconstruction and Development (EBRD) will provide some EUR 102.2mn to finance four projects in Montenegro, Dan daily said citing unnamed sources from the international financial institution. The daily's report says that the bank approved a EUR 37mn loan to local Adriatic Properties to finance the reconstruction of hotel complex Sveti Stefan. Another EUR 35mn loan will be extended to power utility Elektroprivreda Crne Gore (EPCG) for the purchase of 69,000 electricity meters. The Deposits Protection Fund will receive a EUR 30mn financing to increase the level of guaranteed deposits and railway company Prevoz will get some EUR 0.2mn to finance the purchase of equipment.

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