Montenegro has received an extra €30 million (£24.8m) from the European Bank for Reconstruction and Development (EBRD) to expand its smart metering programme.

The nation’s main electricity provider, Elektroprivreda Crne Gore AD Nikšić (EPCG), will use the cash to further install smart electricity meters across the country.

Around 164,000 smart electricity meters have been installed in Montenegro so far following an initial €35 million (£29m) loan from the EBRD in 2010.

Riccardo Puliti, EBRD Managing Director for Energy and Natural Resources said: “Investing in smart metering and implementing smart grids are key priorities for the EBRD. This project will improve energy efficiency and reduce losses.”