PODGORICA (Montenegro), December 26 (SeeNews) – Montenegro's finance ministry said it signed a 36 million euro ($49 million) loan deal with Germany’s KfW Bank to finance water supply projects.
The loan will be used to finance the upgrade of water supply networks, the replacement of the existing equipment and for the construction of waste water treatment plants in three coastal municipalities, Ulcinj, Bar and Tivat, the finance ministry said on its website on Wednesday.
The 15-year loan has a grace period of five years and carries an annual interest rate of 1.8%.
($ = 0.7317 euro)