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MONTENEGRO LOAN FOR SMES

Signature(s)

Amount
€ 90,000,000
Countries
Sector(s)
Montenegro : € 90,000,000
Credit lines : € 90,000,000
Signature date(s)
19/03/2010 : € 2,000,000
3/09/2009 : € 2,000,000
3/09/2009 : € 2,000,000
31/08/2010 : € 2,000,000
14/12/2010 : € 2,000,000
28/10/2011 : € 2,000,000
25/10/2011 : € 2,000,000
7/08/2009 : € 3,000,000
26/07/2011 : € 3,000,000
8/02/2011 : € 4,000,000
24/07/2009 : € 4,000,000
9/03/2010 : € 4,000,000
4/08/2010 : € 4,000,000
29/10/2010 : € 5,000,000
19/08/2009 : € 5,000,000
22/09/2009 : € 6,000,000
3/09/2009 : € 9,000,000
29/07/2010 : € 9,000,000
21/11/2009 : € 20,000,000
Link to source

Summary sheet

Release date
17 February 2009
Status
Reference
Signed | 24/07/2009
20090034
Project name
Promoter - financial intermediary
Montenegro Loan for SMEs

Intermediaries under this operation will be chosen by the Government of Montenegro according to their eligibility criteria and the Bank’s usual selection criteria, among Montenegrin banks.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 100 million.
Not applicable.
Location
Sector(s)
Description
Objectives

Credit line for financing of limited scale projects of small and medium enterprises and of public sector authorities and entities of any size for investments in the fields of the knowledge economy, energy and environmental protection and tourism.

Make available access to long-term funds at affordable interest rates to important sectors of economy.

Environmental aspects
Procurement

The intermediaries will be requested to ensure compliance of the sub-projects with relevant national and EU environmental laws, as appropriate.

The intermediaries will be requested to ensure compliance of the sub-projects with EU directives, in particular for the award of public sector contracts, as may be appropriate.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

Link to source
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General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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