The European Union has allocated to Montenegro financial support worth €40.2 million for the development of rail infrastructure in the country, half of which has been granted as non-repayable assistance, while the remaining funds will be provided as a loan by the European Investment Bank, the Steering Committee of the Western Balkans Investment Framework has announced.
This important investment is a flagship project of the Economic and Investment Plan, which marks the beginning of the Plan’s implementation in Montenegro.
The EU funds, which have been allocated under the Western Balkans Investment Framework, include €22 million in grants, provided for the preparation and implementation of new infrastructure projects, of which €20.1 million will be spent on a project of reconstruction of the Bar-Vrbnica railroad.
“Solid infrastructure is the foundation for economic development, connectivity and European cooperation. Therefore, by investing in the development of infrastructure in Montenegro, the European Union wants to support economic recovery and further development of Montenegro’s economy and its connectivity with EU member states. A friend in need is a friend indeed. The European Union will help Montenegrin citizens to overcome together the difficult crisis caused by the COVID-19 pandemic. This significant investment in sustainable transport modes, worth €40 million and implemented as part of the Economic and Investment Plan, is the latest in a series of clear messages of the EU’s support for Montenegro’s EU integration path,” EU Ambassador to Montenegro Oana Cristina Popa stated on the occasion of the latest allocation of the EU’s financial support to Montenegro.