Montenegro will receive grants from the EU for the development of railway infrastructure

Montenegro will receive grants from the EU for the development of railway infrastructure

The EU has provided financial support to Montenegro in the amount of 40,2 million euros for the development of railway infrastructure. Half of which will be provided in the form of grants, and the rest will be provided in the form of loans from the European Investment Bank. This was reported by the EU Council for the Development of an Investment Structure for the Western Balkans.

EU funds from the Western Balkans Investment Program include a € 22 million grant for the preparation and implementation of new infrastructure projects, of which € 20,1 million will be invested in the Bar - Vrbnica line reconstruction project.

“Good infrastructure is the basis for economic development, interaction and European cooperation. Thus, by investing in infrastructure development in Montenegro, the European Union wants to support the economic recovery and further development of the Montenegrin economy and its ties with the EU member states. Friends get to know each other in trouble. The European Union will help the citizens of Montenegro overcome this severe crisis caused by the coronavirus pandemic. This significant € 40 million investment in sustainable transport is the latest in a series of clear statements on EU support for the integration path of Montenegro", - said the EU Ambassador to Montenegro Oana Christina Popa.

Source.

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