The Government of Montenegro has authorized a payment of $4.27 million to Exim Bank of China. This sum includes $2.44 million for obligations under a credit arrangement with Crnogorska Plovidba and $1.82 million for obligations related to Barska Plovidba.
During its recent meeting, the government approved the settlement of these overdue obligations, which were due on July 21, 2024. These payments are tied to credit agreements between Crnogorska Plovidba, Barska Plovidba, and Exim Bank of China, backed by state guarantees.
The decision was made after acknowledging that the companies involved could not meet their repayment obligations as per the agreed schedule.
The government has thus agreed to pay $4,269,843 to Exim Bank of China, with $2,441,683 allocated for Crnogorska Plovidba and $1,828,160 for Barska Plovidba.
The Ministry of Finance is responsible for submitting the required documentation to the Protector of Property and Legal Interests of Montenegro following the payment, to ensure all necessary steps are taken to safeguard the state’s property and legal interests.
