The Municipality of Ulcinj has a credit debt of more than 25 million euros, of which two loans, to Erste Bank and the Investment Development Fund (IRF), are active, while the grace period for debts to the German Development Bank (KfW) and the European Investment Bank (EIB) is still running. .
This is written in the Report on the work of the President of the Municipality Ljor Nrekić for the past year, which will be on the agenda of the next session of the local parliament. The document does not say what the monthly annuities are for active loans.
The report states that total liabilities to Erste Bank without interest amount to 2,73 million euros, of which slightly more than half a million euros were paid last year. A loan from the IRF was taken in the amount of EUR 325.000 without interest, of which nearly EUR 88.000 was paid last year. Total debts to KfW Bank and EIB amount to 18 and 4,5 million euros, respectively. The funds are provided with guarantees from the Government for the regulation of water supply and waste water. The municipality has already paid KfW risk compensation in the amount of 140.000 euros, and the grace periods with foreign banks expire in August of this year and April of the following year. In April next year, the Municipality should pay the first six-month annuity for the loan with KfW in the amount of around 900.000 euros. and in August of this year, for the credit debt with the EIB, also the first half-yearly annuity in the amount of about 107.000 euros.
Nrekić stated that last year the Municipality also paid a debt to the Budva company "Rekreaturs" in the amount of nearly 6,5 million euros, which is why, based on a final court verdict, its account was blocked for 209 days. In addition, the Municipality had "other obligations" in the amount of over two million euros.
According to the report, the Municipality regularly paid installments for the reprogrammed tax debt until the account was blocked, for the Municipality and for the companies it is the founder of. As it says, the Municipality managed to reduce the total debt by 326,6 thousand euros, or to the amount of 5,6 million euros.
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