The European Bank for Reconstruction and Development (EBRD) and the European Union have launched a consultancy tender aimed at enhancing corporate governance and operational management at Monteput, the state-owned entity responsible for Montenegro’s motorway and major road infrastructure. The initiative has a total budget of €500,000, funded through EBRD-administered donor resources alongside EU backing.
This initiative is intended to tackle structural and managerial challenges that have arisen as Monteput’s responsibilities have expanded. Notably, this includes the construction, operation, and financing of the Bar–Boljare motorway and associated strategic road assets. As Monteput evolves from a project-specific organization into a long-term infrastructure operator facing increasing financial and operational complexities, both the EBRD and EU aim to enhance governance standards in line with international best practices.
The consultants selected for this project will collaborate closely with Monteput’s management and supervisory bodies to refine corporate governance frameworks. Their objectives include clarifying roles and responsibilities among ownership, oversight, and executive functions, as well as bolstering internal controls. A significant emphasis will be placed on enhancing financial management, procurement processes, and risk management systems to foster improved transparency, accountability, and decision-making practices.
In addition to governance reform, the initiative aims to boost operational efficiency and institutional resilience. This will involve assessing current organizational structures, staffing models, and reporting lines while implementing performance management tools appropriate for a company managing long-term infrastructure assets with substantial capital intensity and stringent public accountability requirements. The consultants are expected to deliver practical solutions rather than just theoretical reforms.
From the EBRD’s and EU’s perspective, this project is part of a larger strategy to strengthen state-owned enterprises in Montenegro in anticipation of increased infrastructure investments and closer alignment with EU regulatory frameworks. Enhanced governance at Monteput is viewed as essential for securing future funding from multilateral development banks, commercial lenders, or potential capital-market instruments linked to infrastructure projects.
The €500,000 technical assistance package also underscores lenders’ increasing concern regarding governance risks in publicly owned infrastructure companies. As Montenegro continues to depend on external financing for significant transport initiatives, the capability of entities like Monteput to exhibit strong governance practices, professional management, and reliable financial controls is becoming increasingly critical for obtaining favorable financing conditions.
The consultancy tender invites international firms with demonstrated experience in corporate governance reform, infrastructure asset management, and public-sector institutional strengthening. The project is anticipated to span several months, with results directly informing Monteput’s medium-term development and financing strategies.
