6 August, 2020 - The project "Restoration of the Fortification Heritage of Montenegro - Kotor City Ramparts" has been included in the Consolidated List of Priority Infrastructure Projects of Montenegro, the Municipality of Kotor has announced.
The Western Balkans Investment Framework has announced its twenty-fourth call for proposals, with funding from the instrument being distributed based on the submission of project proposals. Within the application preparation and the proposal itself, the project’s proponent is required to actively cooperate with the relevant ministry for their particular area, and the proposed project must be on the Consolidated List of Priority Infrastructure Projects. The Municipality of Kotor has made a key step towards obtaining funds to the tune of 3,000,000 euros, by way of preparation of project-technical documentation, but it has also conducted a series of intensive negotiations with the Ministry of Culture. The National Investment Commission at its session of 29th July 2020, chaired by the Prime Minister Duško Marković, considered and adopted an updated Consolidated List of Priority Infrastructure Projects, which now includes the project 'Restoration of the Fortification Heritage of Montenegro - Kotor City Ramparts'.
Projects financed by this instrument are based on a division of funding provided on the one hand by a grant for the development of project documentation, which is awarded by the European Commission through WBIF, and on the other, for the implementation of the infrastructure project itself, by a combination of a loan from one of the international financial institutions and grants from EU instruments.
The Municipality of Kotor has also initiated the process of obtaining a letter of intent from one of the international financial institutions for financing infrastructure works on the project "Restoration of the Fortification Heritage of Montenegro - Kotor City Ramparts". This letter and consultations with the Ministry of Finance on budget planning are a prerequisite for submitting project proposals under the Western Balkans Investment Framework call for proposals.
Alongside fulfilling the preconditions for the use of funds from the WBIF instrument, the Municipality of Kotor is already actively working on their application for a grant to finance the preparation of project documentation for the entire 4.6 km long Kotor ramparts worth 3 million euros. “The public will be kept informed about the progress made on this important project"- the Municipality of Kotor has announced.
HRB
