A section of a highway connecting the Montenegrin city of Bar to Serbia under construction in 2019, financed by the Exim Bank of China. The Montenegrin finance minister said US and French banks had agreed to refinance the debt the country faces in paying back the loan. Photo: AFP
Montenegro reaches deal with Western banks to restructure Chinese debt
- US and French banks help Balkan state refinance nearly US$1 billion in loans from Exim Bank of China, dropping interest rate to less than 1 per cent
- Move is seen as bid to counter Beijing’s attempt to build influence in the region
A section of a highway connecting the Montenegrin city of Bar to Serbia under construction in 2019, financed by the Exim Bank of China. The Montenegrin finance minister said US and French banks had agreed to refinance the debt the country faces in paying back the loan. Photo: AFP
