{"id":1349267,"date":"2024-06-01T08:35:55","date_gmt":"2024-06-01T06:35:55","guid":{"rendered":"https:\/\/webalkans.eu\/?p=1349267"},"modified":"2024-06-28T14:05:33","modified_gmt":"2024-06-28T12:05:33","slug":"e76-million-for-montenegros-railway-transformation","status":"publish","type":"post","link":"https:\/\/webalkans.eu\/en\/news\/e76-million-for-montenegros-railway-transformation\/","title":{"rendered":"\u20ac76 million for Montenegro&#8217;s railway transformation"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Montenegro is set to revitalise its railway system with a significant investment of up to \u20ac76 million from the European Union, through EIB (European Investment Bank) Global under the Team Europe initiative. <\/span><span style=\"font-weight: 400;\">This funding comes through the European Investment Bank (EIB) Global, under the Team Europe initiative. The financial package, signed on 29th May, includes a \u20ac40 million loan and \u20ac35.5 million in EU grants and technical support. This money will be used to reconstruct the 167 km-long railway line from Bar to Podgorica to Vrbnica. The project aims to make the railway more efficient, safe, and able to handle more passengers and freight, promoting greener transport. By improving this key section of the Trans-European Transport Network (TEN-T), over 1 million passengers and many international freight operations will benefit each year.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Financial Breakdown<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u20ac40 million EIB loan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u20ac35.5 million in EU grants<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u20ac4.5 million contribution from the Government of Montenegro<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><b>Project Highlights<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rehabilitation of 20 km of rail<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reconstruction of 13 steel bridges and 8 tunnels<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Modernisation of rolling stock workshops in Podgorica, Bar, and Nik\u0161i\u0107<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The signing ceremony in Podgorica <\/span><span style=\"font-weight: 400;\">was attended by high-level officials, <\/span><span style=\"font-weight: 400;\">including EIB Global Director for Enlargement and Neighbourhood Lionel Rapaille, Montenegro\u2019s Finance Minister Novica Vukovi\u0107, Transport and Maritime Affairs Minister Filip Radulovi\u0107, and EU Ambassador Oana Cristina Popa.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>EIB Vice-President Kyriacos Kakouris <\/b><span style=\"font-weight: 400;\">highlighted the importance of this project for regional integration and sustainable transport: &#8220;\u201cThe upgrade and extension of rail transport infrastructure is a priority both for the European Union and the Government of Montenegro, as it is crucial for regional integration in the Western Balkans.&#8221;<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Montenegro\u2019s Finance Minister Novica Vukovi\u0107 <\/b><span style=\"font-weight: 400;\">highlighted the broader economic benefits: &#8221; Our goal, in partnership with the European Investment Bank, is to foster the development of better, more efficient and safer infrastructure. This will ultimately enhance connectivity and accelerate Montenegro\u2019s economic growth.&#8221;<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Transport Minister Filip Radulovi\u0107 <\/b><span style=\"font-weight: 400;\">pointed out the long-term impact on the transport system: &#8221; Strong support from the European Union and the EIB in financing railway infrastructure improvements means that Montenegro is on track to creating a transport system that will be compatible with the European Union\u2019s transport system and that can continue to be upgraded so that our country is able to comply with EU railway standards.&#8221;<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Ambassador of the European Union to Montenegro <\/b><span style=\"font-weight: 400;\">Oana Cristina Popa underlined the broader significance of EU support: &#8220;This investment is not just about infrastructure; it\u2019s about enhancing the quality of life for Montenegrins, fostering economic prosperity, and ensuring sustainable development.&#8221;<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Background information<\/b><\/p>\n<p><b>About the EIB and EIB Global:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The EIB is the long-term financing institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). EIB Global is the EIB\u00a0Group\u2019s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of <\/span><a href=\"https:\/\/commission.europa.eu\/strategy-and-policy\/priorities-2019-2024\/stronger-europe-world\/global-gateway_en\"><span style=\"font-weight: 400;\">Global Gateway<\/span><\/a><span style=\"font-weight: 400;\">. We aim to support \u20ac100\u00a0billion of investment by the end of 2027 \u2014 around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB\u00a0Global brings the EIB\u00a0Group closer to local people, companies and institutions through our <\/span><a href=\"https:\/\/www.eib.org\/en\/infocentre\/contact\/offices\/index.htm\"><span style=\"font-weight: 400;\">offices around the world<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>About the EIB in Montenegro:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The EU bank has been active in Montenegro since 1977 and has provided almost \u20ac1.1\u00a0billion worth of loans to the country, mostly in support of SMEs, education and transport infrastructure. For more information regarding the EIB\u2019s projects in Montenegro, please refer to: <\/span><a href=\"https:\/\/www.eib.org\/en\/projects\/regions\/enlargement\/the-western-balkans\/montenegro\/index.htm\"><span style=\"font-weight: 400;\">https:\/\/www.eib.org\/en\/projects\/regions\/enlargement\/the-western-balkans\/montenegro\/index.htm<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><b>About the EIB in the Western Balkans:\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The EIB is one of the leading international financiers in the Western Balkans. For detailed information on the EIB\u2019s activities in this region, visit <\/span><a href=\"http:\/\/www.eib.org\/en\/publications\/the-eib-in-the-western-balkans\"><span style=\"font-weight: 400;\">www.eib.org\/en\/publications\/the-eib-in-the-western-balkans<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Montenegro is set to revitalise its railway system with a significant investment of up to \u20ac76 million from the European Union, through EIB (European Investment <\/p>\n","protected":false},"author":1,"featured_media":1349275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"country-for-news":[52],"class_list":["post-1349267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","wb_theme-connectivity","country-for-news-montenegro"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u20ac76 million for Montenegro&#039;s railway transformation News | WeBalkans<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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