“Montenegro’s government said it signed a 250 million euro ($299.6 million) facility agreement with the World Bank to support the country’s fiscal policy measures.

The arrangement is supported by the World Bank Policy-Based Guarantee (PBG1) and will be repaid in 12 years, including a four-year grace period, with an interest rate equal to six-month Euribor plus 2.95 percentage points, the government said in a statement on Friday.

The International Bank for Reconstruction and Development (IBRD) will be a guarantor of the loan, while Credit Suisse, OTP Group, Crnogorska Komercijalna Banka and Societe Generale will act as lenders, the government said.” (SeeNews)