The Ministry of Transport and the European Bank for Reconstruction and Development (EBRD) have signed a grant agreement to finance the construction of the Mateševo-Andrijevica section of the Bar-Boljare highway.
The contract was signed by the coordinator of the Ministry of Transport, Filip Radulović, the head of the EBRD office in Montenegro, Remon Zakarija, the director of the Transport Administration, Radomir Vuksanović, and the executive director of Monteput, Milan Ljiljanić.
After conducting tenders according to EBRD procedures, Monteput signed a contract with the contractor for the construction of the Mateševo-Andrijevica section at the end of February.
"For the implementation of the project to build the second section, an EBRD loan in the amount of 200 million euros was secured, which was signed in July last year with a project agreement and a loan agreement with that bank," the Ministry said in a statement.
A European Union (EU) grant of 150 million euros has also been secured, as provided for in the financing agreement between the Union and Montenegro, signed in December 2024.
In order to implement the financial agreement, a grant agreement was signed with the EBRD, which undertakes to provide and disburse grants.
"The contract was signed by the EBRD as the project financier, the Minister of Transport on behalf of the state, Monteput as the project leader, and the Transport Administration as the administrative body through whose budget program this work will be implemented," the statement concludes.
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