{"id":16154,"date":"2021-06-22T15:51:20","date_gmt":"2021-06-22T13:51:20","guid":{"rendered":"http:\/\/euronews.al\/en\/?p=16154"},"modified":"2021-06-22T15:51:20","modified_gmt":"2021-06-22T13:51:20","slug":"europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china","status":"publish","type":"post","link":"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/","title":{"rendered":"Europe willing to bail out Montenegro from \u20ac1 billion loan from China"},"content":{"rendered":"<p>A European financial institution has come forth in helping out Montenegro pay off a \u20ac1 billion loan to China. The Western Balkan country borrowed the sum from China in an effort to fund a highway but is now risking losing a part of its territory altogether as it is unable to return the loan.<\/p>\n<p>Montenegro is building one of the most expensive highways in the world on Chinese credit. Forty bridges and 90 tunnels will be built and funded by China across the region.<\/p>\n<p>\u201cIn Serbia, the same length of the segment with similar topography costs \u20ac16 million per kilometer, while here it is \u20ac26 million. I don\u2019t understand this difference\u201d, said Montenegrin PM Zdravko Krivokapic.<\/p>\n<p>Paying off the Chinese loan is also a problem, raising fears that the country of 600.000 and its \u20ac4 billion GDP risks falling into the Chinese loan trap as seen in some other countries.<\/p>\n<p>The project was initiated by former premier Milo Djukanovic in a bid to boost trade.<\/p>\n<p>\u201cI would have never signed this type of contract, but now that I am in the post of the minister, I want to guarantee that the job is done, the highway is built and eradicate financial risks\u201d, says Mladen Bojanic, Minister of Investments.<\/p>\n<p>The European Investment Bank and the International Monetary Fund refused to finance the project, but in 2014 China came forward proposing a \u20ac1 billion loan to build the first segment, while a Chinese company was put in charge of its construction.<\/p>\n<p>\u201cWe will need Europe to pull us out of this trouble. I am sure that Europe will not allow it\u201d, said a local.<\/p>\n<p>China has invested billions in the region giving rise to concern on financial dependence from Beijing, which might complicate EU enlargement in the East as well as Montenegro\u2019s efforts to join the bloc.<\/p>\n<p><strong>YOU MIGHT ALSO LIKE<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2020\/10\/20\/imf-predicts-deeper-recession-for-albania-and-montenegro\/\">IMF predicts deeper recession for Albania and Montenegro<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2021\/06\/21\/montenegro-decides-its-own-fate-says-deputy-pm-abazovic-over-srebrenica-row-with-serbia\/\">Montenegro decides its own fate, says deputy PM Abazovic over Srebrenica row with Serbia<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2020\/06\/25\/us-ambassador-s-appeal-to-avoid-huawei-personal-data-unsafe-at-the-hands-of-china-s-communist-party\/\">US Ambassador\u2019s appeal to avoid Huawei: Personal data unsafe at the hands of China\u2019s Communist Party<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>A European financial institution has come forth in helping out Montenegro pay off a \u20ac1 billion loan to China. The Western Balkan country borrowed the sum from China in an effort to fund a highway but is now risking losing a part of its territory altogether as it is unable to return the loan. Montenegro [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":16156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[250],"tags":[151],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Europe willing to bail out Montenegro from \u20ac1 billion loan from China - Euronews Albania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe willing to bail out Montenegro from \u20ac1 billion loan from China - Euronews Albania\" \/>\n<meta property=\"og:description\" content=\"A European financial institution has come forth in helping out Montenegro pay off a \u20ac1 billion loan to China. The Western Balkan country borrowed the sum from China in an effort to fund a highway but is now risking losing a part of its territory altogether as it is unable to return the loan. Montenegro [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/\" \/>\n<meta property=\"og:site_name\" content=\"Euronews Albania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/euronews.al\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-22T13:51:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/euronews.al\/en\/wp-content\/uploads\/2021\/06\/podgorica-824440_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1918\" \/>\n\t<meta property=\"og:image:height\" content=\"1079\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Euronews Albania\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@euronewsalbania\" \/>\n<meta name=\"twitter:site\" content=\"@euronewsalbania\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Euronews Albania\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/\"},\"author\":{\"name\":\"Euronews Albania\",\"@id\":\"https:\/\/euronews.al\/en\/#\/schema\/person\/40904b56ee024949b80be8199e47e27d\"},\"headline\":\"Europe willing to bail out Montenegro from \u20ac1 billion loan from China\",\"datePublished\":\"2021-06-22T13:51:20+00:00\",\"dateModified\":\"2021-06-22T13:51:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/\"},\"wordCount\":354,\"publisher\":{\"@id\":\"https:\/\/euronews.al\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/euronews.al\/en\/wp-content\/uploads\/2021\/06\/podgorica-824440_1920.jpg\",\"keywords\":[\"Kryesoret\"],\"articleSection\":[\"Balkans\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/\",\"url\":\"https:\/\/euronews.al\/en\/europe-willing-to-bail-out-montenegro-from-e1-billion-loan-from-china\/\",\"name\":\"Europe willing to bail out Montenegro from \u20ac1 billion loan from China - 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