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    Signature(s)

    Amount
    € 144,000,000
    Countries
    Sector(s)
    Montenegro : € 24,000,000
    Serbia : € 120,000,000
    Transport : € 144,000,000
    Signature date(s)
    17/05/2004 : € 24,000,000
    17/05/2004 : € 120,000,000
    Link to source
    Data sheet

    Summary sheet

    Release date
    20 October 2003
    Status
    Reference
    Signed | 17/05/2004
    20030178
    Project name
    Promoter - financial intermediary
    European Roads
    Serbian Road Directorate (SRD) and Montenegrin Ministry of Maritime Affairs and Transport (MAT).
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Approximately EUR 50 million.
    Approximately EUR 115 million.
    Sector(s)
    Description
    Objectives

    The proposed project includes two schemes:

    • The rehabilitation of the existing carriageway between Belgrade and Novi Sad (Pan European Corridor X) as well as the construction of a new carriageway on the same section including the bridge Beska over the Danube. The increasing traffic on the road axis between Belgrade and the Hungarian border has created congestion on the section Belgrade-Novi Sad where a very high level of traffic is registered.
    • Upgrading of the E65 road section between Podgorica and Bar (Adriatic coast). The construction of the Sozina Tunnel -already started by the Montenegrin Government- will be completed by new access roads.

    The selected investments will contribute to modernise the existing regional road connections with substantial time savings and improved safety.

    Environmental aspects
    Procurement

    For both elements of the project full EIA procedures will need to be followed and will be assessed during appraisal. For Belgrade Novi-Sad, it can be expected that no significant impacts will occur in the widening of an existing transport corridor. For the Podgorica Bar road, there is a protected environmental area next to the project. Appropriate measures to be undertaken in this area will be evaluated and suggested to the promoter.

    EIB procedures for international procurement would be applied, where relevant.

    Comments

    Roads rehabilitation and upgrading.

    Link to source
    Summary sheet

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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    Other links
    Data sheet
    Summary sheet

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