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Ex-Im Bank Forming Partnerships in Southeast and Central Europe

Municipal Infrastructure

Ex-Im Bank's Southeast and Central Europe Conference included a panel on Municipality Financing. Representatives from three major cities spoke on the panel, discussing the projects their cities were planning to implement. Under Ex-Im Bank's sub-sovereign program, municipalities with a B- long-term foreign currency rating or better can qualify for medium-term financing. Cities with a B rating or better can qualify for long-term financing.

1. Mayor Miomir Mugosa, Mayor of Podgorica, Montenegro presented the following projects during the conference:

Mini roundabout road (bridge, viaduct, and access road), $15 million project
-- The municipality in is in touch with the European Investment Bank to finance this transaction.
Restoration and Construction Waste-Waters Purification Device, $35 million project
-- A French company "Sogreah" completed a feasibility study for this project.
Investment in a City Hotel
-- The municipality is willing to lease land for a 250 bed hotel.
Construction of a Center for Distribution and Processing of Fruits and Vegetables
--Feasibility study completed by "Flag International."

For more information about these projects, please contact Ms. Vesna Brajovic, commercial specialist at the U.S. consulate in Montenegro, via e-mail at Vesna.Brajovic@mail.doc.gov.

2. Vice-Mayor Calin Catalin Chirita, Vice-Mayor of Bucharest, Romania, identified the following priority projects of this city:

Transportation Projects totaling $2 billion including construction of a ring road, improving traffic management, modernizing the rolling stock and busses of the city, and extending the subway system.
Environmental Projects such as the $300 million wastewater treatment project in Glina.
And finally a disaster alarm system for $30 million.

For more information about these projects and about the city of Bucharest please visit their official website at www.pmb.ro. You may also contact the U.S. Commercial Service in Bucharest by phone at (40-21) 210-4042 or by e-mail at bucharest.office.box@mail.doc.gov.

3. The final presentation was from Natasa Zrilic, Advisor to the Mayor for Development, City of Rijeka, Croatia. Ms. Zrilic discussed the most important developments in the city of Rijeka, including:

The modernization of the Port of Rijeka, with a new passenger terminal, new marina at the Porto Barros, and new container terminal.
And a new sewage system financed by the European Bank for Reconstruction and Development for approximately $12 million.

For more information about these projects, please contact Mirela Kessler, Ex-Im, OPIC, and TDA assistant in Zagreb, Croatia, at m.kessler@inet.hr.

Updated: November 16, 2004