- Government of Montenegro
Ministry of Economic Development Signed contracts under the EEPPB
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Signed contracts under the EEPPB
Published on: Dec 26, 2014 • 10:13 PM Author: M
Minister of Economy, Vladimir Kavaric, Minister of Finance Radoje Zugic and regional director of the German Development Bank (KfW) Jörg Meilicke have signed three contracts related to the implementation of the Energy Efficiency Program in Public Buildings - phase II on 12 December 2014. The contracts have been signed in accordance with the Protocol on Cooperation between the Federal Republic of Germany and Montenegro.
Minister of Economy Vladimir Kavaric and representative of the KfW the Separate Agreement to the Loan Agreement under the EEPPB. The amount of the separate agreement between the Government of Montenegro and German Development bank (KfW) is 20 million euros and financial contribution (donation) is 2,093,135.76 euros.
After signing the agreement, Minister Kavaric stated the following: "Obligations under this agreement will be serviced from the savings that will be achieved through the implementation of this program. In addition to the fact that this contributes to energy efficiency, it is also very efficient having in mind the financial aspect. In my opinion, these types of projects should be supported as much as possible."
Regional director of KfW Jörg Meilicke stated that objective of this program is to ensure sustainable supply of electricity by using energy efficiency measures. Meilicke said "The Government is making a successful step by recovering public buildings and we are very glad to be its partners."
The Energy Efficiency Program in Public Buildings - phase II is a continuation of the first phase of this project. Total amount of funds under the first phase is 13,94 million euros. Educational facilities which under the competence of the Ministry of Education (primary schools, high schools and special schools, kindergartens, student dormitories etc.) are included in the project. The first phase of the program has included the reconstruction of 21 educational facilities using the principles of energy efficiency and the works will be finished by the end of 2015. After the completion of the first phase, reconstruction of facilities from the second phase will start.
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