Montenegro continues a strong investment cycle in railway infrastructure with the support of European partners: SIGNED CREDIT WITH EBRD OF 50 MILLION EUROS FOR THE MODERNIZATION OF THE GOLUBOVCI–BAR RAILWAY

A loan agreement has been signed between the European Bank for Reconstruction and Development (EBRD) and Montenegro, worth 50 million euros, for the reconstruction and modernization of 39 kilometers of railway on the Golubovci–Bar section, one of the most important transport links in the country and a key route towards the Port of Bar. The loan agreement was signed by Minister of Finance Mr. Novica Vuković and EBRD Executive Director for Southeast Europe Grzegorz Zieliński, while the Reconstruction Project Agreement for the Golubovci–Bar railway was signed by Minister of Transport Radoš Zečević, member of the Board of Directors of Railway Infrastructure Montenegro Vladimir Merdović, and EBRD Executive Director for Southeast Europe Grzegorz Zieliński, in the presence of representatives of the European Union Delegation in Montenegro, Bernard Brunet. The EBRD loan is part of a broader financial package worth over 225 million euros, which also includes 112.6 million euros of grants from the European Union and 63 million euros of credit from the European Investment Bank (EIB). It is particularly important that we are implementing this project with strong support from our European partners through a combination of loans and grants, demonstrating that Montenegro recognizes its development priorities and secures quality and sustainable sources of financing. EBRD’s support through a 50 million euro loan is a strong confirmation of our joint commitment to developing quality and sustainable railway infrastructure in Montenegro and improving rail connectivity with the region and the European transport network,” said the Minister of Transport, Radoš Zečević. As he stated, the reconstruction of this important section will contribute to creating better conditions for passenger and freight rail traffic, as well as a modern and more reliable railway infrastructure that will serve citizens, the economy, and the overall economic development of Montenegro.