Ministry of transport paying three million for ships

#MontenegrinSailingCompany #MinistryOfTransport

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Loan installment of three million dollars for purchase of two ships by Montenegrin sailing company will be paid by Ministry of transport, it was reported by Pobjeda.

On yesterday’s session of Government’s commission for economic policy it was decided that Ministry of transport needs to find resources to pay the installment of the loan that Montenegrin sailing company cannot afford to pay for.

Installment of the loan whose total value is 47,4 million dollars, for which the Government provided guarantee, was due to be paid by 21st of July this year. Company coulnd’t pay the installment that was supposed to be paid in February either, so 2.85 million euros were paid through budget reserves. Ships ,,Kotor“ and ,,21. May“ were bought from Chinese Poli group in 2010.

The loan was taken under fixed interest rate of 3 percent with 15 years term, and five years of grace period.

Bar sailing company paid the installment of 469.000 euros for their two ships, which also reached the payment date on 21st of July.

Source: Cafe Del Montenegro