The Ministry of Transport has entered into agreements with the Railway Infrastructure (ŽICG) and the Railway Rolling Stock Maintenance for the transfer of grant funds sourced from the European Investment Bank (EIB).

These agreements aim to facilitate the enhancement of the railway infrastructure along the Bar – Vrbnica segment, part of the Orient/Eastern Mediterranean Corridor (R4 interconnection Montenegro – Serbia).

The Ministry reported the signing of a contract for the transfer of grant funds amounting to €15.77 million from the Western Balkans Investment Framework, along with an additional €19.71 million contract from the same source.

According to the Ministry, the allocated funds will focus on upgrading the railway system, which includes track and bridge rehabilitation, as well as enhancing the capacity of maintenance workshops for railway rolling stock. All contracts incorporate stipulations regarding the specific use of the funds in alignment with European Union regulations.

Looking ahead, the Ministry expects to sign an agreement for the transfer of funds tied to a loan agreement with the EIB, totaling €40 million, which will outline the responsibilities of the Ministry of Finance, the Ministry of Transport, ŽICG, and OŽVS.

Total investments aimed at modernizing the railway system through this initiative will reach €80 million, with Montenegro contributing directly €4.53 million.

The Ministry of Transport expressed gratitude to the European Investment Bank for its substantial support, affirming that the implementation of these contracts will greatly enhance the safety, reliability, and efficiency of railway transport in Montenegro.

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