Serbian media “Blic” has given the alarm that Montenegro may lose the port of Bar. 7 years ago, the government borrowed 809 million euros from China to build the first highway, with only 41 kilometers.
Although the government’s decision was challenged, the then government dismissed solitary criticisms and warnings of debt risk to China as unfounded and justified the borrowing claim that European banks refused to lend.
This is where the problems started…
China’s “predatory loan” is a stepping stone around Montenegro’s neck: If they do not return the money, they will lose the port of Bar. “NATO and the EU must not allow it.”– Serbian media write in the headline.
Montenegro has asked the EU for help in repaying the loan, the first tranche of which is expected to be disbursed in July. However, hopes were dashed by European Commission spokeswoman Ana Pisonero, who said the EU was not helping to repay third-party loans, adding that the EU would contribute to Montenegro’s public debt sustainability by supporting sustainable investment.
It remains to be seen what the next actions of the government of the Prime Minister Zdravko Krivokapić will be, who otherwise will have to hand over the “keys” of the port. Flash