Montenegro Secures 350 Million Euros for Transport Connectivity Projects

Montenegro has recently announced a major milestone in its efforts to enhance transport connectivity within the country and with the wider region. The European Bank for Reconstruction and Development (EBRD) and the European Union have pledged a total of 350 million euros to support infrastructure projects in Montenegro, aimed at improving road networks and boosting economic development.

EBRD Loan for Highway Construction

The EBRD will provide a loan of up to 200 million euros to finance the construction of the Matesevo–Andrijevica section of the highway that connects the Adriatic port of Bar with the Serbian border. This 22-km long stretch of highway is crucial for connecting Montenegro’s underdeveloped north with the more economically active central and southern regions. The challenging terrain along the route makes this infrastructure project a significant engineering feat.

EU Grants for Investment

In addition to the EBRD loan, the European Union will contribute two investment grants totaling 150 million euros towards transport projects in Montenegro. These grants are a clear indication of the EU’s support for Montenegro’s efforts towards EU integration. The EU has already provided funding for a feasibility study for the Bar-Boljare highway, a key project under the Trans-European Transport Networks initiative.

Benefits for Montenegro

Matteo Colangeli, EBRD Regional Director for Western Balkans, highlighted the importance of modern and reliable transport infrastructure for Montenegro’s economic development. Improved road networks will not only boost tourism and trade but also enhance regional integration. The EU ambassador to Montenegro, Johann Sattler, emphasized that the EU has allocated over 350 million euros in grants for transport projects in Montenegro in recent years.

EU Accession Talks

Montenegro’s path to EU integration has been ongoing since 2012 when the EU launched accession talks with the country. Significant progress has been made, with 33 out of 35 negotiation chapters opened and three provisionally completed. The latest funding from the EBRD and the EU further demonstrates the commitment to supporting Montenegro’s journey towards European integration.

This financial support for transport infrastructure projects in Montenegro is expected to have a positive impact on the country’s economy and strengthen its connectivity with neighboring regions. With continued investment in key infrastructure projects, Montenegro is poised to enhance its position as a key player in the Balkans region.

Sources: Reuters