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Press release on Cabinet decisions of 151st sessio...
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Press release on Cabinet decisions of 151st session agenda
Published on: Dec 28, 2019 • 12:13 AM Author: PR Service
Podgorica, Montenegro (27 December 2019) -- In accordance with the Article 10 of the Government Decree, on Thursday 26 December 2019 , the Montenegrin Cabinet adopted on the agenda for the 151st
session, a Decree on Customs Tariff for 2020, which determines the amount of customs rates for the following year, in line with the dynamics established by the Law on Confirmation of the Protocol of Accession of Montenegro to the Marrakesh Agreement on establishing the World Trade Organization.
The Cabinet has adopted the Environmental Monitoring Program of Montenegro for 2020. The discussion clarified that environmental monitoring is a systematic measurement and testing of parameters, as well as an assessment of environmental and pollution indicators. On the basis of available data from environmental measurement places, a clear insight to changes in the quality and quantity of the environment, emissions of pollutants and the use of natural resources is obtained.
The Cabinet has approved Information on the Guarantee Agreement between the European Investment Fund as a guarantor and the Investment and Development Fund of Montenegro as a user – the EaSi warranty and has given consent to the Warranty Agreement. The EaSi guarantee instrument is specifically designed for microfinance and social entrepreneurship. One of its key goals is to increase the accessibility and access to finance for members of vulnerable groups who want to start their own businesses, micro-enterprises and social enterprises. The EIF recorded a total portfolio volume of EUR 5 million, with an availability period from the beginning of 2020 to the end of the second quarter of 2024.
The Cabinet approved Information on the baseline for negotiations with the International Bank for Reconstruction and Development regarding the Public Policy Based Guarantee (PBG). Based on the positive experience with the first public policy-based guarantee (PBG 2), negotiated in 2017, which resulted in the conclusion of a very successful loan arrangement worth EUR 250 million, Montenegro and the International Bank for Reconstruction and Development (IBRD), during 2018 and 2019, continued negotiations, regarding the implementation of another such guarantee. Bearing in mind that through proactive action, the financing of 2020 is almost rounded off, through the issue of Eurobonds in 2019, the idea is to provide funds to budget financing for the 2021, through the PBG 2 arrangement. It should also be pointed out that the Law on the Budget for 2020, foresees a debt of up to EUR 250 million with the support of PBG 2 arrangement.
The Cabinet has adopted the Information on the continuation of the Regulation implementation of the funds allocation to stimulate direct investment and improve the competitiveness of the economy. In accordance with the methodology and the defined procedure, it was concluded that both applications received on the Public Invitation met the defined criteria, and their evaluation created the conditions for the start of the procedure for granting funds to investment incentives. The investment project of Nikšić - based company Uniprom plans to hire 70 workers at production facilities, so that the total value of the direct investment incentive funds, which can be allocated amounts to EUR 1, 228,500,00. The project of the Nikšić – based company "Dental Centre – Nikčević" planned employment of 17 newly employed workers in the provision of professional dental services, and the total value of the funds for stimulating direct investment that can be allocated is EUR 68, 000,00.
For full press release click here.
PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO
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