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Monday, April 22, 2024
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EBRD greenlights €200 million credit for Montenegro’s highway extension project

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The European Bank for Reconstruction and Development (EBRD) has approved a credit of EUR 200 million for Montenegro for the highway section from Mateševo to Andrijevica. The pre-qualification call will be announced next week, and the main tender for the selection of the contractor will be issued no later than mid-year.

This was announced at a press conference in the Government of Montenegro.

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We received information from the EBRD that they are interested in approving a credit of around EUR 200 million for the continuation of the highway construction – said Prime Minister Milojko Spajić.

According to him, they received direct information from the bank with the dates of construction and the deadlines implied.

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As he explained, alongside the EUR 200 million credit, there would be a grant from the European Commission (EC) making up 40% of the investment, which is, according to estimates. The exact amount of the grant, he added, has not yet been determined, as the precise value of the project is not known.

If the total project value is EUR 500 million, the loan amount will be EUR 200 million, and if it is EUR 600 million, then the grant amount will be around EUR 240 million – Spajić explained.

He also stated that the terms of the loan are not yet known, but they will be very favorable.

Monteput Director Milan Ljiljanić said that the company has prepared technical specifications, and next week they will announce the pre-qualification call, while the main tender for the selection of the contractor, as well as for technical supervision, will be issued by mid-year.

Minister of Transport and Maritime Affairs Filip Radulović said that Montenegro needs European funds.

We have never given up favorable funds and grants; we are simultaneously pushing projects forward and working to obtain grants. We are proud of this grant – said Radulović.

He emphasized the importance of continuing the construction of the highway, emphasizing that work on the Mateševo-Andrijevica section should start as soon as possible to connect Montenegro with Serbia and central Europe.

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