Montenegro to increase infrastructure funding
The government of Montenegro has adopted the framework agreement on the terms of borrowing by the country from the European Investment Bank (EIB) to fund infrastructure development and other projects, the Montenegrin finance minister Igor Luksic has said.
The framework has yet to be ratified by the country's parliament, but once that stage is passed negotiations on future cooperation between Montenegro and the EIB can begin, Railway Market Magazine reports.
Mr Luksic said: "We shall make efforts to have the framework agreement signed as soon as possible in order to forward it to the Parliament for ratification. The agreement should be ratified in May, and we shall then be able to negotiate on the future modalities of cooperation with the EIB."
EIB investment worth Ôé¼95 million (~£63 million) has already been put into into travel, water supply and energy infrastructure projects. Now the government is interested in using more funding to improve wastewater systems and the develop road and rail systems.
Last month Montenegro became the 185th member of the International Monetary Fund and the World Bank.
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