The European Investment Bank (EIB) and Montenegro have signed today in Podgorica a EUR 27 million loan in favour of the solid waste management sector. The loan will be implemented through the Ministry of Spatial Planning and Protection of the Environment and will co-finance the first phase of the creation of a national sustainable solid waste management system in line with European Union (EU) standards and directives

The project, with an estimated investment cost of EUR 54 million, concerns the implementation of the first disposal cells of 5 inter-municipality sanitary landfills, transfer stations, recycling facilities and the rehabilitation of some 30 dumpsites. The investments covered by this loan will contribute to the creation of a nationwide solid waste management system, thus also reducing water and soil pollution.

This financing underlines the importance the EIB attaches to environmentally driven investments and safeguarding the environment, especially in Potential Candidate Countries –thus implementing one of the strategic objectives of the EU in respect of the harmonisation of the standard of living of its citizens.

Notes to editors:

The European Investment Bank (EIB), the long-term financing institution of the European Union, supports viable capital investment projects furthering the policy objectives of the Union. In the countries of the Western Balkans, the financing operations of the EIB contribute to facilitating the integration process with the European Union.

EIB lending operations in Montenegro amount to some EUR 200 million since the start of its activities in the country in 2002.