First contracts with Abu Dhabi Fund signed

Minister of Agriculture and Rural Development Petar Ivanovic and representatives of four Montenegrin companies have signed today the first agreements on long-term loans for development projects in the field of agriculture from the development fund of Abu Dhabi.

Ivanovic has signed contracts with the owners of the company Milkraft, Mesopromet, Goranovic, Vektra Jakic, Dragan Buric, Hilmije Franco, Djordije Goranovic and Dragan Brkovic.

After the signing Ivanovic said that today opens a new chapter when it comes to agriculture.

“The main goal of this project is to create new jobs, stimulate production and as much as we can implement the substitution of imports by domestic production,” Ivanovic said.

He added that the minimum amount of credit means is a million dollars and a maximum- three million dollars.

Interest rate per year is 2.5 percent, the repayment period of the loan is 17 years, with a grace period of four years.

Izvor: RTV Montenegro