Only a month before the parliamentary election in Montenegro the Investment and Development Fund (IDF) decided to amend 11 financial assistance programs for 2016, by stimulating further program beneficiaries in terms of reducing interest rates and loan processing fees for approved loans.
Data on the IDF’s loan terms in 2016 show that they are much more favorable compared to those from 2015, which was a non-election year. Thus, in 2016 loan beneficiaries could obtain loans of maximum three million, with a repayment period of up to 12 years, grace period of four years, an interest rate of 5.5 percent per annum and a loan processing fee of up to one percent of the approved loan. A year earlier, loans were also approved for a period of three years with a loan processing fee of one percent of the approved loan, but the repayment period was shorter, i.e. 10 years with a grace period of two years, while the interest rate of seven percent was significantly less favorable.
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