The OPEC Fund lends the Republic of Montenegro 50 million euros
Vienna, December 18 / WAM / The OPEC Fund for International Development signed a loan agreement worth 50 million euros with the Republic of Montenegro, to develop and strengthen flexible, sustainable finances, expand the establishment of renewable energy sources, and support the green transition.
The Fund stated in a statement today that the loan helps Montenegro’s program for sustainable and resilient financial development, support climate action and promote sustainable practices in waste management, forests and renewable energy, and is consistent with Montenegro’s goals for joining the European Union and its climate obligations under the Paris Agreement.
Dr. Abdul Hamid Khalifa, Director General of the OPEC Fund, said that the loan agreement represents the first partnership with Montenegro, to support reforms, address financial challenges, and help achieve the transition to a greener and more sustainable economy.
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