Montenegro
To date, EIB lending operations in Montenegro amount to some EUR 259 million.
Loans aim at promoting economic activity through the rehabilitation and expansion of the transport network (road, rail and airport), developing energy infrastructure as well as protecting the environment. In 2009, for instance, the EIB signed a EUR 27 million loan to co-finance the first phase of a national sustainable solid waste management system in line with EU standards aimed at reducing water and land pollution.
In 2009, the EIB also signed a EUR 100 million umbrella guarantee with the Montenegro government to fight the impact of the economic crisis. This umbrella guarantee covers EIB loans with local banks licensed in Montenegro and supports working capital and investments for SMEs as well as small scale municipal investments. Projects financed by the EIB in Montenegro benefit from the support of the Western Balkans Investment Framework (WBIF) whose objective is to simplify access to credit by pooling and coordinating different sources of finance and technical assistance.
