Montenegro’s Network for Affirmation of NGO Sector (MANS) said that the parliament should set up a working group to monitor the construction of the key Bar-Boljare motorway as the state institutions responsible for the implementation of the project have decline to provide important information to the citizens.
MANS added it has requested information about the project several times since the start of talks with Chinese CRBC, which is building the first priority section of the motorway from Smokovac to Matesevo.
The 44-km stretch should be completed within 48 months. The Montenegrin government and China Exim Bank signed in November, 2014 a €689mn 20-year maturity and five-year grace period plus a 2% fixed interest credit contract for the financing and construction of the section. Its complete cost is €809mn and the Montenegrin government is expected to provide the remaining €120mn from other sources. The stretch is being built by Chinese firm CRBC.
The 169-km Bar-Boljare road project is significant in comparison with the size of Montenegro's economy and is expected to boost its growth in 2015. The European Commission has forecasted that the country’s economy will grow by 3% this year, speeding up from an estimated 2% in 2014 thanks to expected intensified works on two large tourism resorts (Porto Novi and Lustica), and the launch of the first section of the key Bar-Boljare motorway. The International Monetary Fund also expects the economy to recover this year and accelerate to 4.7% in 2015.
Montenegro’s government has decided to speed up the acquisition of Italian A2A's stake in the power firm EPCG, paying €68.9mn for a ... more
The European Commission slammed Montenegro for its lack of progress in fight against organised crime in its progress report released on April 17, and said that the country ... more
Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more