Signed Loan Agreement between Montenegro and IBRD, for the Project for Institutional Building and Agricultural Strengthening and the Grant Agreement for the Global Fund for Environmental Protection

Mr. Igor Lukšić, PhD, the Deputy Prime Minister and Finance Minister and Mr. Ian Peters Olters, the Head of the World Bank Office in Montenegro, signed the Loan Agreement between Montenegro and IBRD, for the Project for Institutional Building and Agricultural Strengthening and the Grant Agreement of the Global Fund for Environmental Protection (GEF Grant), which will be realized by the Ministry of agriculture, forestry and water management, Bureau of Statistics of Montenegro and Veterinary Administration, as well as by institutions responsible for project implementation in the amount of 2.955.000 . The Loan Agreement signed between Montenegro and IBRD, for this Project was signed for the period of 11,5 years, grace period of 5,5 years and it will be repaid semiannually at favorable interest rates.