First contracts within ADMAS project signed with four companies from northern Montenegro

    PR Service Podgorica, Montenegro (21 December 2015) — Minister of Agriculture and Rural Development Petar Ivanović signed Monday the first contracts in line with the public invitation for crediting development projects in agriculture from the funds approved by the Abu Dhabi Development Fund. The contracts were signed with owners of the following companies: Milkraft Leche, Mesopromet-Franca, MI Goranović and Vektra Jakić. The signing ceremony was attended by Ambassador of the United Arab Emirates to Montenegro Hafsa Al Ulama.

    The new ADMAS (Abu Dhabi to Montenegro Agricultural Support) project has been launched after the successful completion of MIDAS projects – IPARD-like 1 and 2, and IPARD, Minister Ivanović noted. He thanked the Abu Dhabi Development Fund for its trust and especially Ambassador of the United Arab Emirates, Ms Ulama, for everything she had done to make the favourable credit funds available to the Montenegrin agriculture.

    The main objective of the ADMAS project is to encourage the creation of new jobs, production and substitution of food imports with domestic products, the Agriculture Minister stressed.

    “The first four signatory companies come from the north of Montenegro, two from Bijelo Polje, one from Pljevlja and one from Nikšić. This clearly demonstrates the Government’s attitude towards the north. In addition to 55% support from the agricultural budget and 54% support from other projects for the northern part of Montenegro, once again, through the ADMAS projects, the state shows its attitude towards agriculture,” Minister Ivanović underlined.

    UAE Ambassador to Montenegro Hafsa Al Ulama said that the credit confirms strong relationships and good cooperation between the two countries, voicing satisfaction that the United Arab Emirates will be importers of the four supported companies’ products and she announced activities aimed at establishing cooperation with the competent institutions of the UAE in order to define international standards for unrestricted import of Montenegrin products.

    The owners of the four companies thanked the Government and the Embassy of the UAE for investing in raising productivity and competitiveness by providing the favourable credit funds.

    Source: Government of Montenegro