The EBRD considers providing syndicated loan of up to EUR 65mn to Montenegro's electricity transmission company Crnogorski Elektroprenosni Sistem (CGES), the EBRD announced. The funds are intended to upgrade the power network in the country and build electricity transmission infrastructure, linking Montenegro with Italy. The project includes construction of a new substation at Lastva on the Adriatic coast, strengthening of the existing network around Lastva, and construction of a new 155km 400kV line from Lastva to Pljevlja in Northern Montenegro. The total cost of the project, which is linked to the planned construction of an undersea cable from Italy to Montenegro, is estimated at EUR 105mn. |
Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more
Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more