The OPEC Fund for International Development (OPEC Fund) has signed its first loan agreement with Montenegro, providing a €50 million loan to strengthen fiscal sustainability and the transition to a green economy for the southern European country.
Publish dateFriday 20 December 2024 - 00:24
The "Sustainable Development and Resilient Finance" program will help Montenegro improve its public financial management, support climate change measures, and promote sustainable practices in waste management, forestry, and renewable energy.
The project is being financed in partnership with the World Bank and the French Development Agency (AfD) and is in line with Montenegro's EU accession goals and its climate commitments under the Paris Agreement.
The OPEC Fund's President, Abdulhamid Al-Khalifa, said that this new partnership is an important step in supporting fiscal reforms and the transition to a green economy.
The OPEC Fund for International Development (OPEC Fund) is an independent financial institution that serves as the financial arm of the Organization of the Petroleum Exporting Countries (OPEC).
The Fund was established in 1976 and aims to support economic and social development in developing countries.
The project is being financed in partnership with the World Bank and the French Development Agency (AfD) and is in line with Montenegro's EU accession goals and its climate commitments under the Paris Agreement.
The OPEC Fund's President, Abdulhamid Al-Khalifa, said that this new partnership is an important step in supporting fiscal reforms and the transition to a green economy.
The OPEC Fund for International Development (OPEC Fund) is an independent financial institution that serves as the financial arm of the Organization of the Petroleum Exporting Countries (OPEC).
The Fund was established in 1976 and aims to support economic and social development in developing countries.
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Source : news agency wam
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