PODGORICA (Montenegro), August 10 (SeeNews) – The proceeds of a 50 million euro ($61.5 million) loan from the European Investment Bank (EIB) aimed for onlending to small and medium enterprises (SMEs) in Montenegro will be available as of the autumn, local media reported on Friday.
The Investment and Development Fund of Montenegro (IRF) that will disburse the funds to local SMEs is expected to sign the loan deal with EIB next month, broadcaster RTCG (www.rtcg.me) quoted IRF management board president Dragan Lajovic as saying.
IRF was established in March 2010. So far it has invested over 40.56 million euro in private companies supporting 385 projects, RTCG said.
($=0.8130 euro)