Montenegro to invest almost €1bn in regional development in 2016

By bne IntelliNews March 20, 2016

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.

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Montenegrin court seizes passports of opposition leaders accused of coup attempt

Montenegro’s high court has seized the passports of two opposition leaders accused of plotting a coup as a precautionary measure. Andrija Mandic and Milan Knezevic – two of the leaders of the ... more

Russians continue to holiday in Montenegro despite warnings from Russian foreign ministry

The summer tourism season in Montenegro started earlier than expected and indicates that this year the revenue will exceed €1bn – the ... more