The European Union has set aside EUR 40.2 million for the reconstruction of the Vrbnica-Bar railway, as announced in the 26th quarterly report on the total activities within the process of integration of Montenegro into the European Union for the April-June 2020 period, adopted by the Government on October 15.
– Through the fifth invitation for investment grants for the co-financing of project, the project application for the project of reconstruction and modernization of the railway Vrbnica-Bar, Serbian state border, has been approved. The total value of the investment is EUR 40.2 million – says the document published on the Government's website.
Of this, as said, the EU has provided a grant of EUR 20.1 million, whereas the rest is to be financed through the credit of the European Investment Bank (EIB).
– Although the project was rated positively, due to a large number of applications from the region and the limited budget, the final decision on whether the funds are to be set aside from the EU budget for 2020 or 2021 will be reached by the end of the year – the document says.
Furthermore, as said, the sixth invitation for the co-financing of investments in the fields of transport and energy has opened, and project applications may be sent by December 31, 2020.
– The decision on the financing of project will be reached at the meeting of the Managing Board, which is planned for the end of 2021. Also, the decision on the opening of an invitation will be adopted at the next meeting of the Managing Board, planned for December 2020 – says the document adopted by the Government in the section pertaining to IPA projects 2014-2020.