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Construction Project Finance of Eastern Bypass in Montenegro


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Risk management shows the  proposed investment is a senior loan of up to $15 million to the Municipality of Podgorica in Montenegro to finance the completion of the Eastern Bypass, a priority project of the City supported also by the European Union that will eliminate a key remaining bottle-neck on the motorway from Belgrade to the Adriatic Sea.

<Podgorica/strong> is the capital and largest city of Montenegro with an estimated population of 200,000. It is also the administrative, financial, telecommunications and university center of the country with a strong economic base focusing on the aluminum, construction and tourism sectors. The municipal annual budget for 2010 was approximately $110 million.

The total Corporate Finance Program of the City of Podogrica for 2011 amounts to approximately $56 million. Hindmarsh LLC t/as Hindmarsh Finance arranged the Business Finance for the completion of the Eastern Bypass is approximately $20.5 million.

The project is located in the Municipality of Podgorica, Montenegro.