Sveti Stefan receives EUR 37 million supports, EBRD’s first investment in Montenegrin toursim

The European Bank for Reconstruction and Development (EBRD) is supporting the development of one of the most attractive tourist sites in Montenegro – Sveti Stefan – by providing a EUR 37 million loan to developer Adriatic Properties d. o. o. to invest in this high-end resort, ERDB has confirmed, making it the Bank’s first investment in Montenegrin tourism.

EBRD has recognised Montenegro as a rising global tourist destination with high development potential, the Banks report, emphasising that Montenegro is among the very few who have achieved growth in the tourism sector last year in spite of the economic crisis.

EBRD has identified Sveti Stefan as one of the main tourist destinations in Montenegro. For this reason it chose to invest in this public-private partnership, operated by world famous AmanResorts, developed by Adriatic Properties d. o. o. and owned by the Restis group of owners.

The loan will serve to finance the completion of the renovation of the Sveti Stefan city-peninsula and the coastal area in its vicinity spanning to neighbouring towns of Budva and Petrovac. The project is intended to include the reconstruction of several villas, a hotel, and number of tourist facilities, as well as the related infrastructure.
(Source: EBRD)