February 14 (SeeNews) - The European Investment Bank (EIB) is expanding its cooperation with the Investment-Development Fund of Montenegro (IRF) on climate action projects, the IRF said.
This area adds to the EIB-IRF cooperation in providing financing to entrepreneurs and small and medium-sized entrepreneurs, the IRF quoted the EIB manager for Montenegro, Alexandros Pamnani, as saying on Friday.
The EIB is also supporting the efforts of Montenegro to meet environmental goals such as energy efficiency, reducing greenhouse gas emissions, investing in renewable energy, general resource efficiency, waste management, as well as protecting healthy ecosystems in the country as part of a new financial framework for a total amount of 150 million euro ($170 million), which was agreed in November, Pamnani said during a meeting with IRF executive director Irena Radovic.
The EIB has been active in Montenegro since 1977 and has provided 976 million euro worth of loans to the country, mostly in support of SMEs, education, environment and transport infrastructure.
($ = 0.88376 euro)