Montenegro gets funding from the World Bank

Montenegro gets funding from the World Bank
The World Bank's Board of Directors approved on December 20,  to Montenegro policy based guarantee – PBG in the amount of EUR 80 million, which will enable the state to borrow from EUR 200 to 240 million under favourable conditions and with a lower interest rate, reads the official government page of Montenegro. This will ensure funding for the budget in 2018, with consideration of options for repayment and refinancing of the existing debt in 2018. At the same time, there is a possibility that the funds of the World Bank will be used to refinance part of Eurobonds that fall due 2019-2021.

The Montenegrin government explains that "the arrangement represents a confirmation of the credibility of Montenegro's economic policy measures aimed at strengthening macroeconomic stability and improving the standard of living of citizens.".../IBNA

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