The European Commission refuses to help Montenegro out of a tight spot financially. The country is building a motorway between the port city of Bar and the Serbian border.
To finance the 160-kilometer expressway, Montenegro borrowed almost one billion euros from a Chinese bank, but has difficulties repaying it. That is why Montenegro asked Brussels for help, the country is listed by the European Union as a potential candidate country.
Peter Stano, spokesman for the EU foreign affairs representative, explained: “We are the largest provider of financial aid and trading partner. We are doing a lot with Montenegro and other partners in the Western Balkans to help them on their way to align with EU standards, with their reforms and all the other things. And we still stand by them, but we are not paying back the loans they take out from third parties. “
So far, around 40 kilometers of the Montenegrin motorway have been completed. In December, the country’s foreign ministry said it was ready to expand its cooperation with Beijing. Montenegro has also received Covid-19 vaccine from China, among other things.
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