March 8 (SeeNews) - Montenegro's finance ministry said it signed an agreement for a 100 million euro ($105.4 million) loan with Deutsche Bank aimed to finance the state budget.
These funds are additional support for the state in dealing with global risks, the finance ministry in a press release on Tuesday.
The loan has a variable interest rate composed of the six-month Euribor reference rate and an interest margin of 5.9% per year.
The loan is valid for 36 months from the date of the contract, with a grace period of 12 months.
The first installment of interest will be paid six months after the withdrawal of the loan funds, while repayment of the principal will begin twelve months after the withdrawal of those funds and will be carried out by paying five equal installments of the principal.
($ = 0.9490 euro)