“The European Bank for Reconstruction and Development (EBRD) said on Monday it is providing a 20 million euro ($24.6 million) loan to the Port of Adria company, which operates container and general cargo terminals at Montenegro’s main seaport of Bar.

The EBRD’s financing will support the development of Bar port and is part of a wider effort to develop strategic transport connections in the Western Balkans that are crucial to the development of competitive and integrated economies in the region, the lender said in a statement.

‘We are particularly pleased to see the continuous modernisation of the Port of Adria. The EBRD has previously provided important financing, and we are proud to see greater private sector participation in the delivery of much-needed infrastructure projects in the country. We are confident this will become a success story which will encourage further private investment in transport infrastructure in Montenegro and the wider region,’ the director for transport of Port of Adria, Sue Barrett, said.” (See News)