We do not give up on loan from Abu Dhabi

The government does not give up the intention to continue negotiations with the Abu Dhabi Fund on loan of 50 million US dollars to support agriculture, Minister of Agriculture and Rural Development Petar Ivanovic told Radio Montenegro.

He reiterated that this is a favorable arrangement for 17 years at an interest rate of two and a half percent, with a grace period of four years.

The story of the loan has begun in October 2013. After an official visit to Abu Dhabi, Minister Ivanovic announced that Montenegro has available 50 million US dollars. This money , as he said, will be invested in increasing of production and the number of cultivable land.

Representatives of the Fund arrived in June 2014 and reiterated that they expect projects to have the function of raising standards of food safety, job creation, as well as a reduction in imports.

In February this year, the government approved signing the Loan Agreement, but that did not happen.

“As always when it comes to a good job, some people come and make a huge effort to postpone or corrupt those good arrangements. This was the case with the Abu Dhabi Fund”, explained Ivanovic.

However, he underlines that the government has not give up the arrangement with the Abu Dhabi Fund.

Izvor: RTV Montenegro