Montenegro secures €350 million from EBRD and EU for transport upgrade
Advt
Montenegro has secured €The EBRD will provide a loan of up to €200 million to finance the construction of the Matesevo-Andrijevica section of the highway connecting the Adriatic port of Bar with the Serbian border, while the EU will contribute two investment grants totalling €150 million.Johann Sattler, the EU ambassador to Montenegro, said the grants represented the bloc's clear message of support towards Montenegro's efforts on its path to EU integration.The 22-km long stretch of highway passes through challenging terrain, and will connect Montenegro's underdeveloped north with the more economically active centre and south.The EU has already provided a €4.7 million grant for a feasibility study for the Bar-Boljare highway under the Western Balkans Investment Framework. The project constitutes an integral part of the Trans-European Transport Networks "Modern and reliable transport infrastructure is essential for Montenegro's economic development, especially in boosting tourism, trade, and regional integration," said Matteo Colangeli, EBRD Regional Director for Western Balkans.The EU's Sattler added that the bloc had provided more than €350 million in grants for transport projects in Montenegro in recent years.The EU launched accession talks with Montenegro in 2012 and since then 33 out of a total 35 chapters of negotiations - areas in which the candidate needs to emulate EU laws - have been opened and three provisionally completed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NDTV
an hour ago
- NDTV
20-Year-Old Australian Man Forms New Country With 400 Citizens On Unclaimed Land
A 20-year-old Australian man has caught the internet's attention after he proclaimed himself president of the self-declared Free Republic of Verdis, a tiny nation nestled in a disputed 125-acre forest along the Danube River between Croatia and Serbia. According to The New York Post, this micronation boasts its flag, cabinet, currency, and nearly 400 citizens, all established after Daniel Jackson discovered the land was unclaimed due to an ongoing border dispute between the two countries. "Verdis was an idea I had when I was 14. It was just a bit of an experiment at first with a few mates. We have all dreamed of creating something crazy," said Mr Jackson. Mr Jackson, a digital designer who creates virtual worlds on Roblox, started building Verdis' government when he was just 18. Notably, the Free Republic of Verdis is situated on a 0.5-square-kilometre forest patch known as "pocket three," a disputed area that neither Croatia nor Serbia claims due to an ongoing border dispute. Mr Jackson declared the independence of the Free Republic of Verdis on May 30, 2019. "We started making Verdis a reality when I was 18 by forming some laws and a flag. We have now built up a government and have a great cabinet," he said. Verdis' official languages are English, Croatian, and Serbian, and the nation uses the Euro as its currency. The tiny nation is only accessible by boat from Osijek, Croatia. However, attempts to settle there have faced significant resistance, including an incident in October 2023 when Croatian police detained and deported several settlers, including Mr Jackson, who was also given a lifetime ban from entering Croatia. "They deported us but couldn't give a reason why. They said we were a threat to homeland security,'' he added. Mr Jackson now claims to be running a "government in exile" and accuses Croatian authorities of setting up surveillance along Verdis' shoreline to block access from Serbia. "We have had a lot of problems with the Croatian authorities, but we do want a good relationship with them in the future. They haven't taken to us kindly and have been aggressive," he claimed. Mr Jackson now frequently travels to Belgrade, Serbia, where he claims officials have been more receptive to his cause. Despite the ban from Croatia, he continues to advocate for access to Verdis and hopes to return one day. He has stated that if successful, he would step down from his position and call an election, as he's not interested in power. Each citizen of Verdis receives a passport, though Mr Jackson cautions against attempting to use it for international travel. Nevertheless, some citizens have reportedly used their Verdisian passports to enter other countries. According to Mr Jackson, Verdis is selective about who it admits, prioritising individuals with in-demand skills such as medicine or law enforcement experience due to its small size. Despite several setbacks, he remains optimistic and believes it's a matter of time before he and his citizens can reclaim the land. He asserts that since Croatia doesn't claim the land, Verdis has a rightful claim to it.
Time of India
2 hours ago
- Time of India
EU faces 15% tariff on exports to US: Key details revealed
Brussels: The 15% tariff that European Union goods face when entering the United States is all-inclusive, unlike the deals some other countries have struck with Washington, a senior EU official said on Tuesday. The tariff framework will apply broadly to EU exports, except for steel and aluminium, the official said. The 15% rate will also apply to cars and car parts, with no quotas or limits, he added. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program "What we have obtained in our deal is the best available treatment," the EU official told reporters, while adding that the 27-nation bloc was not celebrating the 15% rate, but that it considered it was a very good deal compared to others. Tariffs on pharmaceuticals and semiconductors are currently zero, but if they rise as a result of a US probe into imports of those products, they will not exceed the 15% ceiling. Talks on a joint statement with the US that will spell out more details are very advanced, with the text broadly ready, with the EU waiting for a response from Washington to finalise things, the official said. He declined to give a timeline for its release. Live Events
The Hindu
2 hours ago
- The Hindu
Bullying tactics: on India pushing back against the U.S., the EU
After months of considerable forbearance, the statement by the Ministry of External Affairs (MEA), on Monday, pushing back against the U.S. and the European Union (EU) for 'targeting' India is significant. The statement came two hours after Mr. Trump had announced penalty tariffs against India, 'substantially' above the current 25% rate set to go into place this week, for importing, processing and selling Russian oil. A day earlier, a senior Trump aide had accused India of 'financing' Russia's war in Ukraine. And on July 18, the EU had announced sanctions on India's Vadinar refinery (partially Russian owned), and secondary sanctions that will affect Indian refiners. The MEA spokesperson said that the measures were 'unjustified and unreasonable' as the U.S. and the EU continue to trade with Russia for goods including LNG, critical minerals and nuclear fuel requirements. The statement also said that it was the U.S. that had encouraged India to keep buying Russian oil to stabilise global markets, something the Biden administration had confirmed. The government said that in comparison to the western countries, India's Russian oil purchases are a 'vital national compulsion' as a result of the conflict in Ukraine, adding that India would '... safeguard its national interests and economic security'. The MEA's statement is the first such clear response on the issue since the Ukraine conflict. Taken with Union Minister Piyush Goyal's statement last week on the U.S. announcement of 25% reciprocal tariffs on India from August 7, Monday's statement indicates New Delhi's growing frustration with the U.S.'s increasingly offensive positions against India, including on immigration, trade negotiations, Operation Sindoor and Pakistan, and India's BRICS membership. It is unclear how and to what extent the government is prepared to stand up to the bullying tactics of Mr. Trump. Mr. Trump said on Tuesday that India has not been a 'good trading partner' — a possible reference to trade talks and the failure of a mini-deal, ostensibly over India's resistance on agricultural market access, dairy products and GM foods. While it is hoped that New Delhi will continue to engage Washington and Brussels to conclude their respective trade talks, the MEA statement is meant to make a larger point. Neither the U.S. nor the EU can decide which country India will partner or trade with. That message is being underlined in visits by Security Adviser Ajit Doval and External Affairs Minister S. Jaishankar to Moscow, to prepare for the Russian President's visit to India later this year. India's sovereignty is non-negotiable and its foreign policy choices cannot be manipulated by other countries, no matter how significant their own ties with India are.
