MONTENEGRO: Infrastructure manager ŽICG and the European Bank for Reconstruction & Development have signed a €11m loan agreement to finance the purchase of modern maintenance equipment to replace obsolete and energy-inefficient machinery by 2025.
The financing will also support ŽICG in improving corporate governance and developing partnerships with vocational training schools to attract more young workers to the railway sector.
‘Rebuilding rail links and making rail transport safer and more efficient is one of our priorities in the country, as well as in the wider Western Balkans region,’ said Remon Zakaria, head of the EBRD in Montenegro, on December 29.
