World Bank approves financial support to Montenegro by confirming credibility of Government's economic policy measures

The World Bank's Board of Directors approved last night (at midnight EET) to Montenegro policy based guarantee – PBG in the amount of EUR 80 million, which will enable the state to borrow from EUR 200 to 240 million under favourable conditions and with a lower interest rate. This will ensure funding for the budget in 2018, with consideration of options for repayment and refinancing of the existing debt in 2018. At the same time, there is a possibility that the funds of the World Bank will be used to refinance part of Eurobonds that fall due 2019-2021.

The arrangement represents a confirmation of the credibility of Montenegro's economic policy measures aimed at strengthening macroeconomic stability and improving the standard of living of citizens.