PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

27325

Primary Business Area

Infrastructure

Disclosure Date

May 25, 2009

Country

Montenegro

Region

Europe

IFC Approval Date

Oct 23, 2008

Status

Completed

Estimated Total Budget

$2,440,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Nov 30, 2016

Project Estimated Start Date

May 26, 2008

Project Description

The project supports the Government of Montenegro’s in structuring concession for construction of 4 lane motorway between the port of Bar in the south and Boljare on the Montenegrin-Serbian border in the north. Objectives include: 1) reducing travel time between the Adriatic and Central Europe, thus facilitating development of tourism on the country's coast; 2) securing a reliable link between the less developed northern part of the country and the richer coast; 3) decreasing accident rates; 4) improving freight routes; 5) increasing development of the Port of Bar, the key entry port for Montenegro and for landlocked Serbia; and 6) increasing employment opportunities, particularly in the construction sector, thus stimulating the growth of local economies, including development of small and medium enterprises.