Energy Efficiency

Montenegro gets EUR 6 million World Bank loan for energy efficiency

EUR 6 million World Bank loan for energy efficiency

Photo: Montenegrin finance ministry


July 9, 2018






July 9, 2018





Montenegro plans to invest EUR 6 million in the implementation of energy efficiency measures at 18 health care facilities by 2023, as part of the Montenegro Energy Efficiency Project 2 (MEEP 2).

The funds have been secured through a World Bank loan. The loan agreement was signed by Montenegrin Finance Minister Darko Radunović and the World Bank’s country manager for Bosnia and Herzegovina and Montenegro, Emanuel Salinas, on July 2.

The funds will be used for energy efficiency measures, the improvement of indoor comfort conditions at 18 health facilities, and establishing a sustainable financing system for energy efficiency projects in the health care sector, the ministry said in a statement.

Minister Darko Radunović said that the MEEP 2 project is an extension of cooperation between the World Bank and Montenegro in the field of energy efficiency improvements in public institutions.

According to the minister, the loan agreement comes with favorable terms – a 15-year repayment schedule and a five-year grace period. The interest rate is equal to the 6-month EURIBOR plus a fixed interest margin, which is not expected to be greater than 0.85%, Radunović said.

Having in mind the project scope and the geographical location of selected facilities, it is estimated that 220,000 potential patients and 2,000 medical staff will benefit from the project, Salinas said.

The funds for the implementation of the Montenegro Energy Efficiency Project 1 (MEEP 1) were secured through a EUR 11.5 million loan approved by the International Bank for Reconstruction and Development. Twenty-five public facilities, including 16 health care and 9 educational institutions, were retrofitted under MEEP 1.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Milos Mladenovic, SEEPEX

D&G ideas as a response to the challenges of the energy transition or how we came to love Baudrillard

13 June 2024 - We discussed the European electricity market post-energy crisis, delving into its causes, as well as future trends in the energy market and global economy development, with SEEPEX director, Miloš Mladenović

European Sustainable Energy Awards 2024 reward clean energy champions

European Sustainable Energy Awards 2024 reward clean energy champions

12 June 2024 - Three outstanding individuals and projects have won the 2024 European Sustainable Energy Awards for their innovation and achievements in the field of energy efficiency and renewables

Full decarbonization of production is Elixir Group's strategic goal for 2030

Full decarbonization of production is Elixir Group’s strategic goal for 2030

10 June 2024 - At the production location in Prahovo, which is the center of Elixir's chemical production, four new greenfield plants with a completely new industrial infrastructure will be built by 2027, which are investments worth around 300 million euros

European Union adopts new Ecodesign Directive

European Union adopts Ecodesign for Sustainable Products Regulation

31 May 2024 - The European Union has replaced the Ecodesign Directive with a regulation covering almost all types of products, to improve sustainability