Montenegro's finance ministry said on Friday it signed a 20 million euro ($25
million) loan agreement with Germany’s KfW bank to finance the second stage of a
project for energy efficiency in public buildings.
The KfW will also
provide a 2.0 million euro grant for the project, the Montenegrin finance
ministry said in a statement.
The loan, which bears an interest rate of
2.0%, should be repaid within 13 years after a three-year grace
period.
The second phase of the programme covers an implementation of
energy efficiency in up to 28 educational institutions, five facilities of the
labour ministry and six administrative facilities under the jurisdiction of the
Property Administration.
The implementation of the second stage of the
programme will start in January 2015 and its completion date is planned for
December 2020.
The first stage of the project, worth 13.94 million euro,
covered 21 schools, kindergartens and student dormitories, and should be
completed by the end of 2015.