December 16 (SeeNews) - Montenegro's government said on Wednesday it will receive a 1.5 million euro ($1.57 million) grant from the Western Balkan Investment Framework (WBIF) for railway infrastructure upgrades.
The funding will be invested in the preparation of project documentation for the replacement of the signalling and safety systems at Golubovci, Zeta, Virpazar, Sutomore and Bar railway stations, the Montenegrin ministry of European affairs said in a statement.
The systems will be linked to the central signalling and safety platform in Podgorica, the ministry added.
Moreover, Albania will receive a 4.5 million euro financing from WBIF for the reconstruction of the Vora-Hani Hoti railway line to the border with Montenegro, the ministry said.
WBIF focuses on key sectors of the Western Balkan economies including energy, environment, transport, social and private sector development.
The framework awards grants for infrastructure project preparation activities, pooling resources allocated from the EC Instrument for Pre-accession Assistance (IPA), the Council of Europe Development Bank (CEB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) as well as contributions from donors through the European Western Balkans Joint Fund (EWBJF).
($ = 0.9579 euro)