Disclosable Restructuring Paper - Higher Education Research for Innovation and Competitiveness Project - P122785

The objective of the Higher Education Research for Innovation and Competitiveness Project for Montenegro is to strengthen the quality and relevance of higher education and research in Montenegro through reforming the higher education finance and quality assurance systems and by strengthening research and development capabilities. This restructuring proposes extension of the Closing Date of the project from December 31, 2018 to June 30, 2019 to: i) allow for completion of key activities that would support the full achievement of the PDO and enhance project sustainability, namely: capacity building of the Agency for Control and Quality Assurance of Higher Education; evaluation of scholarship program for master, PhD and postdoctoral studies; full establishment of the Center of Excellence (CoE) and carrying out the final assessment of pilot CoE experience, and development of a framework for future CoE; and ii) reallocate project funds between disbursement categories, to support the above listed activities, as well as ensure utilization of the project’s savings for additional, related activities, primarily the development of the design for Science Technology Park in Podgorica. Now, 469.000 EUR (541.000 USD equivalent) of non-contracted funds in category two will be moved to category one. This is the second restructuring of the project. The first restructuring took place in July 2016 and entailed an extension of the project closing date by twenty-one months, from March 30, 2017 to December 31, 2018.