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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).

News & Stories

Other links
Data sheet
Summary sheet

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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