📋 Tender Overview
Location:
Montenegro
Project number:
55511
Business sector:
Transport
Notice type:
State
Environmental category:
A
Approval date:
23 Jul 2025
Status:
Exploratory
English-language PSD published:
06 Mar 2025
Project Description
Provision of a tranched sovereign loan in the amount of up to €200 million to the state of Montenegro (the "Borrower"), represented by the Ministry of Finance, for the benefit of Monteput (the "Company", or the "Client"), the state-owned enterprise, responsible for the construction, maintenance and operation of Montenegro's highway, motorways and the Sozina tunnel. The loan will finance the construction of the Matesevo - Andrijevica section, approximately 22 km in length of the Bar - Boljare Highway (the "Project"). The Project will be implemented in accordance with Yellow FIDIC contract terms, under a 'Design and Build' contract.
The Project is complex due to the challenging mountainous terrain from Matesevo (at an altitude of approximately 1,060 m) to Andrijevica (at an altitude of around 780 m).
The Project is expected to be co-financed with investment grants provided by the European Union ("EU").
Project Objectives
The Project will support the development of the Bar - Boljare Highway, which is a strategic priority for Montenegro. The Bar-Boljare Highway is part of Route 4 of the Core Network of the Western Balkans and has been established as an indicative extension of the Trans-European Transport Networks ("TEN-T"). The Project will support Montenegro's economic development and contribute to the country's regional integration by improving connectivity of Podgorica and coastal area on one side and northern part of the country and neighbouring Serbia and Central Europe, on the other. The Bar - Boljare Highway is of utmost importance for Montenegro and the Western Balkans as it aims to establish a vital transportation route connecting the Port of Bar with Podgorica and further extending it to the Serbian border and Belgrade. This highway is set to act as a pivotal infrastructure component providing efficient connectivity between major cities and key transport hubs in the region while offering diverse transportation options.
Transition Impact
ETI score: 66
The expected transition impact of the Project is derived from: (i) the Integrated quality through the facilitation of Montenegro's internal and regional integration by improving the country's key transport infrastructure highway connection between central and northern regions; and (ii) the Well-Governed quality through support for a range of objectives including a review of the overall financial governance of the sector, efficiency and corporate governance of Monteput, addressing outstanding objectives of the Transport Community Treaty Action Plan and piloting the application of the Blue Dot Network ESG framework within Montenegro.
Client Information
MONTENEGRO SOVEREIGN
The borrower is Montenegro represented by the M
