Montenegrins await Exim Bank's response about Bar-Boljare highway construction - Financing models still under negotiation

Representatives of the Montenegrin government and Exim Bank are still negotiating the model of financial structure for the Bar-Boljare highway and don't know yet when they can get a response from the Chinese bank, the web portal Seebiz.eu has reported.
- Until we hear the official position of the Bank, we can neither give estimates nor talk about cooperation in more detail - the Montenegrin Finance Ministry told the daily Pobjeda.

- Right now, we don't know when we could get a response from the potential project financier, China's Exim Bank, because negotiations and the exchange of information on the model of financial structure and the highway itself are still underway - people at the Montenegrin Finance Ministry pointed out.

They added their communication with that Chinese bank was active and that it was considering all aspects of highway construction and this transaction. All details will be negotiated after the Chinese bank forwards a draft of the project funding agreement, they underlined.

China Communications Construction Company (CCCC) and its subsidiary China Road and Bridges Corporation (CRBC) that should carry out the works are currently top-ranked candidates to win the contract for the construction of Bar-Boljare highway. They offered to build a high-priority stretch from Smokovac to Matesevo for EUR 809.58 million.

China's Exim Bank earlier offered the Montenegrin government a grace period of five years for a loan with an annual interest rate of 2 percent and a repayment period of 20 years.

Vlada Crne Gore

The Export-Import Bank of China

Ministarstvo finansija Crne Gore

CRBC Bejing

Exim Bank

Bar Boljare highway

highway from Bar to Boljare

CCCC

China road and bridges corporation

Smokovac

Matesevo