European Bank for Reconstruction and Development (EBRD) has approved a credit of 26 million euros for development projects
The Delegation of EBRD led by the First Vice Presidentof the Bank, Jürgen Rigterink, was visited the Regional Water Supply for final negotiations on the approval of the credit for the implementation of the Project for the extension of the regional water supply system for the Montenegrin coast.
This was the sixst visit of senior officials of the European Bank for Reconstruction and Development to the Regional Water Supply in the previous year and represents the final mission prior to the approval of a loan arrangement intended for the implementation of development projects that the Regional Water Supply Company conceived following the development needs of the Montenegrin coast.
Jürgen Rigterink, the First Vice President and Head of the Client Services Department, emphasized that during a two-day visit to Montenegro, he met with President Djukanovic and with Prime Minister Markovic, as well as with business entities, including Regional Water Supply Company.
The reason for the visit to the Regional Water Supply is the approval of the EBRD credit in the amount of 26 million euros for development projects. Impressed with the results achieved in the past few years, Mr. Rigterink confirmed that he expects the first tranche of a credit of 10 million for merging Herceg Novi into a regional water supply system will be approved before the beginning of the summer, after which the second tranche will be approved in the amount of 16 million euros.
Regional water supply is the largest infrastructure project implemented in Montenegro since the renewal of independence in cooperation between the Government of Montenegro, the World Bank and the European Bank for Reconstruction and Development. In addition to traditionally good cooperation with Regional Water Supply, the results which were achieved in the previous period, which are reflected in the improvement of overall business performance, have recommended the European Bank for Reconstruction and Development to continue to support the vision of the Regional Water Supply.