Montenegro Second Energy Efficiency Project (WB-P165509)

  • Montenegro
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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
Jun 4, 2018
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.
Montenegro Ministry of Health and Ministry of Economy
The holder of the loan, grant, or other investment.
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 7.39 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Mar 5, 2018

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Project Description

The development objective of Second Energy Efficiency Project for Montenegro aims to improve energy efficiency in health sector buildings, and to develop and demonstrate a sustainable financing model. There are 3 components in this project:

1/ Energy Efficiency (EE) investments in health sector buildings in:

  • the state-owned public health sector facilities for energy cost savings and using an energy savings capture model;
  • related technical services as energy audits, designs, technical revisions, works supervision, technical and social monitoring before and after the EE building renovations with energy performance certificates for all retrofitted facilities; and
  • installation of energy consumption monitoring equipment in health sector buildings.

2/ Technical assistance aims to enhance local EE capacity related to:

  • A long-term sustainable EE investment framework
  • The preparation, implementation, and maintenance of EE investment; and
  • Gender-informed communication and awareness raising campaigns.

3/ Project implementation supports by payments for PIU staff and a technical EE expert, the government Technical Service Unit (TSU), the project-related operating, costs, and financial audits.

Investment Description
  • World Bank (WB)

International Bank for Reconstruction and Development (IBRD) US$ 7.39 million 
National Government                                                             US$ 1.61  million

Project Cost                                                                           US$ 9.00 million

Contact Information

1/World Bank
Pedzisayi Makumbe, Kathrin Hofer
Senior Energy Specialist

Name: Dragan Darmanovic
Title: General Director

3/Implementing Agencies

Ministry of Health
Name: Milica Skiljevic
Title: General Director

Ministry of Economy
Name: Marko Radulovic
Title: Director



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