Montenegro plans to invest €971.4mn in regional development in 2016 according to the government's 2014-2020 strategy, revised at its regular session on March 17.
37% of the funds will come from the state budget and another 37% will be private capital. The bulk of the state funding - €246.5mn – will be invested in the construction of the Smokovac-Matesevo stretch of the Bar-Boljare motorway.
Private capital is expected to be used for the construction of small hydro and wind power plants and in projects for improvement of energy efficiency.
Another 20% of the funds will be secured with loans from international institutions, while 6% will come from EU funds and local municipalities’ budgets.
A total of 81% of state investments and 59% of the private funds will go to Montenegro’s northern region, according to the strategy.
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