Tivat Airport Modernisation (EBRD-46587)

Countries
  • Montenegro
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 22, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
JSC Airports of Montenegro
The holder of the loan, grant, or other investment.
Sectors
  • Technical Cooperation
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 21.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 20 million
Converted using 2017-02-22 exchange rate.
Project Cost (USD)
$ 33.76 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 32 million
Converted using 2017-02-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 24, 2018

Disclosed by Bank Aug 25, 2015


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Project Description

According to EBRD website, the project will be financing the construction of a new passenger terminal at Tivat Airport, extension of the manoeuvring area and rehabilitation and extension of the runway to achieve compliance with the International Civil Aviation Organisation’s  safety standards. It will address this issue by increasing handling capacity of the passenger terminal and adding aircraft stands that would provide sufficient capacity for the next ten years and improve service quality.

Technical Cooperation assignments linked to the project are expected to include an Energy Efficiency Audit, to be funded under Sustainable Transport Technical Assistance Programme. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Contact person: Ana Loncarevic Badnjar
Address: Golubovci bb, 81000 Podgorica
Email Address: ana.loncarevic@apm.co.me
Telephone No.: 00382 (0) 69 544 193

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.