The European Bank for Reconstruction and Development has approved a euro13.55 million (USD18.87 million) loan to support the modernization of railway transportation in Montenegro.
The loan will be extended to the Railway Passenger Company of Montenegro, or ZPCG. It is expected to support the country’s development and help it modernize its passenger fleet.
The loan will also support the reform program for the country’s railway sector. It will finance changes in the rail passenger segment, including the adoption of formal business planning procedures and the preparation of a public service obligation contract within ZPCG.
