Montenegro ensuring sound motorway financing

Montenegro is ensuring it has sound financing in place for the new Bar-Boljare highway that will link it with Serbia. The country has a €687 million loan in place for the project that was provided by China's Exim Bank. The country’s Ministry of Finance is setting out a strategy that will protect it from risk. The loan was provided (in US$) for a 20 year repayment period, with a grace period of six years. However Montenegro’s Ministry of Finance is taking steps to prevent any future currency fluctuations from having a negative effect. In all, the project is expected to cost some €810 million. The first stretch of the highway will be constructed by the China Road and Bridges Corporation (CRBC) company.