Montenegro’s Bar-Boljare motorway programme is increasingly focused on the financing and delivery requirements for its successive sections, including the capacity of public finances, procurement systems and the construction market to support further development of the corridor.
During AIM 2026, Monteput and Spain’s Centunion signed a memorandum of understanding covering the approximately five-kilometre Tolosi-Farmaci section. The planned section is intended to extend the motorway corridor southward and improve the connection between Podgorica and the coast. The memorandum establishes a framework for cooperation but does not confirm that final financing has been secured.
The cost of motorway construction is shaped by a range of factors beyond civil engineering works. Route alignment, tunnels, bridges, geotechnical conditions, land acquisition, traffic volumes, tolling arrangements and connections with local roads all affect project costs. Montenegro’s terrain can create significant uncertainty before detailed investigations are completed, while insufficient geotechnical data at the procurement stage can increase bidders’ risk premiums or lead to claims during construction.
The choice of financing structure also determines how project risks are distributed. Public borrowing, concessional loans, public-private partnerships (PPPs) and grants have different implications for the state and other project participants. Although a PPP can reduce the initial borrowing requirement, it may create long-term payment commitments or expose the project to traffic-related obligations. Concessional financing can reduce borrowing costs but does not eliminate construction risks.
Each financing model therefore requires a credible estimate of the remaining cost to complete the project, alongside clearly defined responsibilities for geological conditions, land acquisition and demand risk.
The Bar-Boljare motorway also needs to be planned as a national infrastructure programme rather than as a collection of independent sections. The benefits of an individual segment partly depend on whether adjoining sections are completed and have sufficient capacity. Construction sequencing also affects traffic management, the relocation of utilities and the mobilisation of contractors.
For public sponsors and lenders, independent technical assessment is needed before procurement begins. Reviews should examine quantity estimates, the maturity of designs, geotechnical baseline reports, construction schedules and the allocation of risks under contracts, using international experience as a benchmark. Once construction starts, supervision must be capable of assessing contractor claims and verifying work quality and progress.
The motorway’s strategic objectives include improving north-south connectivity, reducing travel times, increasing access to the Port of Bar and supporting regional trade. Achieving these benefits depends on delivering individual sections within cost and schedule limits that Montenegro’s public finances and implementation capacity can sustain.
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