Credit at the Breast Bank: Montenegro has borrowed another 100 milions euros

The Ministry of Finance in the Technical Mandate announced that on behalf of the Government of Montenegro with the Breast Bank (Deutsche Bank AG), it provided 100m euros to fund budget obligations in the current year and the mentioned assets are available. The mentioned bank, was concluded for a period of three years, with a grace period of 12 months and an interest rate consisting of the six-month Euribor increased by the amount of the margin of 5.9%. The first installment of interest is paid six months from the withdrawal of credit funds, while repayment of principal will begin twelve months after the withdrawal of these funds and will be implemented by the payment of five equal installments.

They add that in addition to the cost of interest, the loan amount is paid for a loan processing in the amount of 1.35 percent of the total value of the loan, ie in the amount of 1.35 million euros. They said the loan processing fee is paid as a deduction from the total amount of the loan.

A loan of 100 million in a respectable partner is planned by the Law on Budget for the current year and was implemented in order to ensure missing funds, and in the function of regular and unobstructed settlement of all obligations of all obligations. Given market motion, the specified arrangement is concluded at eligible and sustainable conditions, contributes to fiscal resistance and is a step closer to closing the necessary financial structure for this year - state in MIF.

They state that the realized indebtedness is additional support in coping a state with global risks.

But proof of the responsible management of the government's economic policy, whose primary task is to protect citizens and the economy from such earthquakes, while creating conditions for the economic sustainability and prosperity of the company - they added from the Finance Department.

They reminded that the budget for 2023 defined that the state may be borrowed up to 600m euros through the conclusion of credit arrangements with international financial institutions, with domestic or foreign banks and / or bonds on the domestic and / or international market, as well as the conclusion of bilateral or other credit arrangements.

M.J.