What is the commission of banks in hedging loan for the first section of the highway – is a question of the CdM portal to which the Ministry of Finance still hasn’t given an answer. They reminded that the bank costs for the hedging arrangement are included in the interest rate, which reflects the price of the banks’ exposure to Montenegro.
“Each one of banks submitted their bid in terms of the amount of dollar debt to be converted into euros, as well as EUR interest rates. They were ranked based on the volume/size of the exposure and the interest rate in euros, and those that had most favourable terms for the state were selected”, the ministry explained.
They reminded that these are four banks, two European banks – Societe Generale from France and German Deutsche Bank, as well as two American – Merrill Lynch International and Goldman Sachs International.
The Ministry also confirmed the earlier media allegations that hedging hadn’t covered the entire loan.
