Montenegro's IRF launches credit line for installation of PV panels

Photovoltaic system Source: pixabay.com

PODGORICA (Montenegro), August 6 (SeeNews) – The Investment-Development Fund of Montenegro (IRF) has launched a credit line to support the installation of photovoltaic (PV) panels by companies and farmers, it said.

IRF will extend loans in the amount of between 3,000 ($3,550) and 400,000 euro with a 3% interest rate and up to ten years of repayment period, including a one-year grace period, the fund said in a statement earlier this week.

The project is aimed at encouraging greater use of clean energy and improving energy efficiency, with the aim of reducing carbon dioxide emissions and energy savings by micro, small and medium-sized enterprises (MSMEs) and agricultural producers, IRF said.

($ = 0.84483 euro)

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