📋 Tender Overview
Location: Montenegro
Project number: 55258
Business sector: Transport
Notice type: State
Environmental category: B
EBRD Finance Summary: EUR 30,000,000.00
Total Project Cost: EUR 30,700,000.00
Project Description
The provision of a senior loan of up to € 30 million to Zeljezniiki Prevoz Crne Gore a.d. (ZPCG), the passenger train operator in Montenegro. The loan will be fully guaranteed by the State of Montenegro (the Guarantor) and used to finance the purchase 4-car Electro-motor unit (EMU) sets to be used for operations across the railway network of Montenegro. The new rolling stock will replace the old, energy inefficient loco-hauled train sets currently in operation.
Project Objectives
ZPCG needs to acquire 4-car EMUs to improve the quality and regularity of services. The acquisition of new rolling stock has been identified by the Government of Montenegro as the key priority for the developement of the railway services in the country. The new rolling stock will replace the old, energy inefficient locomotive-hauled train sets currently in operation.
Transition Impact
ETI score: 66
Well Governed (primary) through the Company's and the Guarantor's (where applicable) undertaking to: (i) implement a corporate governance action plan and (ii) sign a public service contract based on the international best market practices;
Green (secondary) through the renewal of the rolling stock fleet resulting in estimated average savings of 18,145 tonnes of CO2 over the evaluation period from 2026 to 2037, which represents emission savings at the level of 53 per cent. The Project will be 100 per cent GET eligible.
