World Bank signs loan for renewing power supply in Montenegro

Sep 04, 2002 02:00 AM

Acting Yugoslav Finance Minister Veroljub Dugalic and World Bank's country manager for Yugoslavia Rory O'Sullivan on 4 September signed two agreements on loans for structural adjustment and stabilization of electricity supply in Montenegro, at the value of $ 20 mm.

Under the agreements, on the basis of which Yugoslavia would take World Bank loans on behalf of Montenegro, about $ 15 mm will be received for structural reforms and another $ 5 mm for support to the Montenegrin electric power industry, Dugalic said.

Source: BBC Monitoring European
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