The government will take an eight million euro loan from the World Bank (WB) for the project to modernize the financial infrastructure of Montenegro and align it with SEPA standards.
This is defined by an amendment to the bill on the budget for 2025, which will be discussed today at the Committee for Economy, Finance and Budget. The executive branch adopted a set of amendments to the proposal for the most important economic act in the coming year at an electronic session on Friday.
"The amendment is proposed in order to create legal assumptions for the conclusion of a credit arrangement between Montenegro and the SB for the implementation of projects to modernize the financial infrastructure of Montenegro and its alignment with SEPA standards (TARGET Instant Payment Settlement Clone Project - TIPS Clone Project). It is a project that was developed with the support of the European Central Bank and the Bank of Italy, which would cover a large number of countries, including all the countries of the Western Balkans. All countries participating in the project will have common benefits, which can be seen in the development of a platform for instant payments, reduction of transaction costs, preparation for future migration to the TIPS platform of the Eurosystem, as well as improved regional cooperation", the explanation of the amendment states.
Because of this amendment, the proposal for the Decision on State Indebtedness for the next year is also being changed.
A set of amendments was proposed regarding the budget of the traffic administration and capital projects regarding new multi-year projects, as well as some projects that were not completed by the end of this year, so the deadline is moved to next year. Among them are - reconstruction of the regional road R-18 Bar-Sutorman- Virpazar", total estimated value of 64 million euros with a deadline of realization from the next year until 2028, reconstruction of the promenade in Igalo from Galeb to Tito's villa", total estimated value 3,4 million with a deadline for implementation by the end of next year, rehabilitation of the unsanitary landfill Zakršnica, Mojkovac", total estimated value of five million euros, Science and Technology Park in Podgorica, total estimated value of 13 million ...
Then there are the amendments that increase the value of certain projects that will be realized from the budget of the administration for transport and capital projects. In the meantime, the project documentation for the activities in question was completed, so there was an increase in the estimated value of the projects from those listed in the budget proposal for 2025. . Among these projects are the investment resurfacing of main and regional roads". Among these projects are "Investment resurfacing of regional and main roads" which is increased from five to 10 million, "Investment maintenance of regional and main roads" which is increased from five to 25 million, "Construction of trim track around Trebjesa and construction of a sports and recreational park in Nikšić", the estimated value is increased from 2,57 million to 3,2 million, Reconstruction and adaptation of the JZU Special Hospital "Vaso Ćuković" in Risnu", the estimated value is increased from 3,5 million to 4,9 million....
The founding capital of IRF is EUR 107,5 million
The government also passed the Decision on the establishment of the state Development Bank, which will be registered in the Central Register of Business Entities and whose founding capital cannot be below 90 million euros.
The founding capital of Razvojna banka is the entire capital of the Investment and Development Fund (IRF), which is estimated at 107,5 million euros.
The Decision states that the authorized person for representation, representation and taking all actions necessary for the registration of this bank is the executive director of the IRF, Nikola Tripković.
Bonus video:
