World Bank, Montenegro wrap up talks on EUR 59.1mn loan.

By bne IntelliNews June 27, 2011
Montenegro's finance ministry wrapped up negotiations with the World Bank on a EUR 59.1mn loan, which will be used for budget support and banking and financial sector reforms, a statement on the ministry's website said. The World Bank's board of directors is to give final approval for the loan in end-August or early September. The loan, which should come into effect by the end of the year, will have a 20-year repayment term with a five-year grace period. Its interest will equal the six-month EURIBOR plus 0.8%.

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