WASHINGTON, December 20, 2017 - The World Bank’s Board of Executive Directors today approved the following guarantee:
Montenegro First Fiscal and Financial Sector Resilience Policy Based Guarantee
IBRD Guarantee: EUR 80 million (US$ 94 million equivalent)
Project ID: P166205
The First Fiscal and Financial Sector Resilience Policy-Based Guarantees (PBG) supports reforms to strengthen public finance sustainability and financial sector resilience. The PBG series underpins the authorities’ reform priorities for an orderly fiscal adjustment through increasing tax revenues, lowering public spending and strengthening medium-term and capital budget process to address external imbalances and rapidly rising public debt level.
For more information, please visit here: https://projects.worldbank.org/P166205?lang=en