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China Development Bank provides EUR 19 million loan to the Investment and Development Fund of Montenegro
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Investment and Development Fund of Montenegro (IDF MN) |
| Country | Montenegro |
| Start Date | Jul 07, 2018 |
| End Date | Jul 24, 2029 |
| Duration | 4,035 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 89940 |
Grant Description
China Development Bank provides EUR 19 million loan to the Investment and Development Fund of Montenegro On July 7, 2018, China Development Bank (CDB) signed a loan agreement with the Montenegro Investment and Development Fund (IDF MN).
The loan is a three year loan for EUR 19 million, and the interest rate is 2.1 percentage points plus the Euro Interbank Offered Rate.
The loan is intended to support the IDF MN's business development and marks the first business cooperation between China Development Bank and Montenegro.
The signing of this loan agreement is a part of the 2 billion Euro-equivalent development finance cooperation loan project announced by Premier Li Keqiang in November 2017, which will aid in development of the 16+1 relationship between China and the Central and Eastern European Union.
Staff Comments
- The Chinese name for the 2 billion EUR developmental loan project to Central and Eastern European Union countries is 中国—中东欧银联体20亿等值欧元开发性金融合作贷款.
- Since the signing of this loan, Greece has joined China and Central and Eastern European Union, now known as the 17+1 cooperation.
Sources & References
- 国开行与保加利亚发展银行、黑山投资发展基金签署有关协议
- Agreement between China Development Bank and IRF approved
- Montenegro approves 19 mln euro loan from China to back SMEs
- 第七次中国—中东欧国家领导人会晤成果清单
- Montenegro okays 19 mln euro loan from China Development Bank to back SMEs
- Montenegro approves 19 mln euro loan from China to back SMEs
- 对外投资合作国别（地区）指南 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Investment and Development Fund of Montenegro (IDF MN)
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