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Oct 22, 2020 11:37 EEST
October 22 (SeeNews) - Montenegro has fulfilled all conditions for the approval of a second Development Policy Loan (DPL) arrangement with the World Bank, Montenegro's central bank said.
The conclusion of the new arrangement is expected soon, representatives of the World Bank said during a meeting with central bank governor Radoje Zugic, the central bank, CBCG, said in a statement on Wednesday.
A delegation of the Montenegro's central bank and finance ministry held virtual meetings with World Bank vice president for Europe and Central Asia Anna Bjerde and executive director Cohen Davidse to discuss the macroeconomic situation in the country, with special emphasis on the impact of the COVID-19 pandemic, the CBCG said.
The World Bank approved a $85 million (72 million euro) DPL arrangement with Montenegro in 2011. The main objective of the arrangement was to support the Montenegrin government in creating prerequisites for economic recovery and growth by restoring financial stability.
($ = 0.843827 euro)
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