EBRD finances rehabilitation of Montenegrin rail network
By Richard High22 December 2009
The European Bank for Reconstruction and Development (EBRD)is providing an extra € 15 million loan to support modernisation of Montenegro's rail network.
The loan will be paid to ZCG Infrastruktura, a company majority owned by the Montenegrin state and which manages the country's rail track infrastructure. It operates a 250 km network.
The EBRD loan will be used to finance the rehabilitation of the rail tracks on a 57 km rail branch between the industrial Niksic region, in the centre of the country, and the capital Podgorica.
It will provide improved transportation links to the Port of Bar and to the European rail network in the southern part of the country.
The EBRD has previously provided a loan of € 15 million to upgrade Montenegro's rail infrastructure.