Contracts on allocation of grant support through IPARD-like 1 project signed

    Podgorica, Montenegro (2 October 2015) — Contracts on the allocation of grant support in the amount of 50 to 65% of investment in agricultural holdings through IPARD-like 1 project were signed in Podgorica early today by 291 agricultural producers, mainly from the north of Montenegro. A total of EUR 10 will be invested in almost all areas of agricultural production, of which EUR 5 million will be returned to agricultural producers. The average contracted investment per household amounts to EUR 35.600.

    The project’s implementation is expected to contribute to gradual achievement of EU standards, creating new jobs in agriculture (around 500 of them, of which 300 in the northern part of Montenegro), boosting value of primary production and partly of processing), as well as to encourage the banking sector to finance projects in agriculture.

    IPARD-like 1 is part of the EU / IPA project of institution-building in agriculture and rural development in Montenegro, funded by the European Union under the Instrument for Pre-Accession Assistance (IPA) and co-financed by the Government of Montenegro. The project is being implemented by the Ministry of Agriculture and Rural Development, in collaboration with the World Bank.

    Source: Government of Montenegro