Deputy PM Luksic signs over EUR 5 million agreement with EBRD

Deputy Prime Minister and Finance Minister Dr Igor Luksic and Marek Lorinc, Head of the EBRD office in Montenegro signed today, 8 December, the Agreement on Loan for the Project of the construction of a wastewater collection system and treatment plant and modernisation of the water supply system in Danilovgrad Municipality.

The project cost is estimated by EBRD at 6 million EUR, with EBRD loan worth 5,35 million EUR, a three-year grace period and payoff period of nine years after the termination of the grace period. The loan will be paid off in biannual instalments with a variable interest rate.

The objective of the Project is to improve the water supply and wastewater situation in the area of Danilovgrad Municipality by the construction of new or rehabilitation of existing assets and improved management of the existing systems to comply with municipal and national environmental requirements, reports EBRD.

The expected outcome of the project is, in addition to the construction of new or rehabilitation of existing wastewater treatment assets, improved living conditions for citizens, as well as creating of conditions for sustainable development in this area.