US embassy in Montenegro

Montenegro Reduces Currency Risk on Costly Chinese Highway Loan

The first phase of Bar Boljare highway in Montenegro. Photo: Government of Montenegro

The Chinese loan for the first phase of Bar-Boljare highway has imposed a heavy burden on Montenegro's public finances.

Minister of Finance and Social Care Milojko Spajic said an arrangement was made with two unnamed US banks and one from France, converting the loan from US dollars to euros.