This year, an amount of almost €1bn will be invested in Montenegro's northern, central and coastal region. Regional Development Strategy 2014–2020, which the government adopted yesterday, provides that the largest amount is invested in the northern region, and the smallest in the central part.
During 2016, an amount of €585,316,857 will be invested in the north.
“If the investment for Bar–Boljare highway construction, section Smokovac¬Matesevo worth €246,542,000, was excluded, total investment planned in Montenegro would amount to €724,852,558. It would also suggest reduced investments in the northern region, but would they would still exceed the value of investments in the central and coastal regions of Montenegro”, it was said in the strategy.
The largest amount in the context of the state budget funds allocated for this region relates to the construction of the first highway section, while the private capital will be used for the implementation of projects aimed at improving energy and energy efficiency.
On the other hand, the total amount of funds planned for the implementation of investments and activities in the central region is €173,469,034. As in the case of the Northern region, the funds will be in the central region, and most will be invested in the sustainable growth as a development direction.
Financial resources will be provided mainly through loans, which are mainly related to programs of lending and factoring by the Investment and Development Fund of Montenegro. In second place of the list are predominantly private investments in the energy sector, followed by funds from the state budget, whereas funds from the budgets of local governments, EU funds and grants will have a much lower share in total investments.
Planned investments and activities in the coastal region are worth €212,608,666. As it was the case in other two regions, investment in the coastal region will be predominantly focused on sustainable growth, especially in the projects and activities aimed at environmental protection and energy development.
“Accordingly, even 72% of the total funds allocated for investment in the region are planned for sustainable growth, 26% for smart growth and 2% for inclusive growth. Private capital is the dominant source of funding for planned activities in 2016 in the coastal region and the same is largely tied to projects in the field of energy.