Germany assists energy efficiency in Montenegro’s education facilities

Podgorica, Montenegro (17 November 2011) -- Finance Minister Milorad Katnić and Regional Director of German Development Bank( KfW) in Southeast Europe Tina Babo signed the loan agreement aimed at implementing the energy efficient reconstruction of education facilities in Montenegro.

The project activities, which are to be implemented over the next two and a half years, include the rehabilitation and modernisation of 30 schools, kindergartens and students homes in terms of energy efficiency, as well as trainings and raising awareness campaigns for staff and students, and consulting services.

The total loan amount is EUR 13 million, of which EUR 1.5 million is a grant, with two and a half year grace period and a fixed interest rate.