Montenegro to Pay KAP’s Debt

Last night, Deutsche Bank sent the formal notification to the Montenegrin Government, saying that the guarantees for the loan given to KAP would be activated.

KAP’s management has refused to sign the papers that would regulate the take-over of the KAP’s debt, which made Deutsche Bank take steps to accelerate the process of collecting the whole loan from the Aluminum Plant.

The Government of Montenegro will pay the debt next week.

The amount is EUR 23,4 million (the principal amount of 22 million and 1,4 million interest) and it will be provided by the state budget.