EIB welcomes Montenegro’s Finance Minister Radoje Žugić - EUR 10 million loan for water and sanitation project signed
- Release date: 25 June 2015
- Reference: 2015-140-EN
The European Investment Bank hosted a Montenegrin delegation led by Finance Minister Radoje Žugić at its headquarters in Luxembourg today. The main topic of discussions at the meeting was EIB activity in Montenegro aimed at supporting economic recovery and helping the country to join the European Union.
On the same occasion a EUR 10 million loan to the Republic of Montenegro for investment in the water and sanitation sector was signed. The project comprises investment schemes for collecting and treating municipal wastewaters as well as water supply schemes. The schemes are located throughout the country. The project will help to bring Montenegro closer to EU environmental standards, improving environmental services, reducing public health risks and enhancing the region's attractiveness for tourism.
This EUR 10 million loan represents the fourth tranche of the total EIB credit of EUR 57 million for this important sector approved in 2005.
“We are very happy to contribute to this programme because projects in the water and sanitation field are essential to the process of modernising Montenegro. We reaffirm our commitment to supporting the country on its path towards European Union integration”, noted Dario Scannapieco, EIB Vice-President responsible for operations in Italy, Malta, Croatia and the Western Balkans.