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Montenegro

FROM THE SUPPORT FUND 16. 01. 2020.   >>  19:49 0

FROM THE SUPPORT FUND

Municipalities withdrew 759,43 thousand euros

Last year, the municipalities of Danilovgrad, Herceg Novi, Rozaje, Tuzi and Bijelo Polje withdrew a total of 759.43 thousand euros from the Municipal Support Fund for pre-financing donor projects.

The Ministry of Finance announced that last year the Municipality of Danilovgrad withdrew funds in the amount of 365.61 thousand, Herceg Novi 282.91 thousand, Rozaje 39.97 thousand, Tuzi 63.68 thousand and Bijelo Polje 7.27 thousand euros.
By the end of last year, the municipalities of Rozaje and Herceg Novi repaid the Fund a total of 62.97 thousand euros.
"The municipality of Herceg Novi has so far returned 23 thousand euros, and Rozaje for three projects 39.97 thousand euros," the statement said.
The Ministry reminded that the Fund was established in accordance with the Law on Local Government Financing.
"The purpose of the Fund, which operates under the so-called revolving model, is to create opportunities for municipalities to identify, in the form of loan, the funds needed to pre-finance donor-funded projects.
This has put in place an additional, very stimulating mechanism for local governments to maximize the use of available donor funds for the implementation of important projects of interest to all citizens, " the Ministry said.

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