PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

27548

Primary Business Area

Infrastructure

Disclosure Date

May 25, 2009

Country

Montenegro

Region

Europe

IFC Approval Date

Nov 12, 2008

Status

Completed

Estimated Total Budget

$6,070,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Nov 30, 2016

Project Estimated Start Date

Oct 15, 2008

Project Description

The project provides advisory services to the Government of Montenegro in mobilizing private sector participation for development of hydropower plants on the River Moraca. Objectives are to: 1) generate an additional 700 gigawatt hours of energy, significantly reducing imports and improving the country's energy balance; 2) improve management of intra-day balancing of electricity production; 3) promote fiscal improvements via a decrease in imports as well as generation of new tax revenue; 4) reduce the frequency of extreme flood and drought in the Moraca river lower basin; and 5) increase employment (particularly in the construction sector) and create opportunities for local economic growth, including SME development.