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In Montenegro, the construction of a highway to open up the Balkan nation is more than two years late. With its high environmental and financial costs (more than 1,000 million dollars), this pharaonic project has dangerously increased the debt of the country of 600,000 inhabitants. The work is being financed by a Chinese bank and largely carried out by a Chinese state company and a local firm close to the previous government …
If Montenegro defaults on its loan, the contract stipulates that the country must renounce sovereignty over certain parts of its territory. This burden on the new government of the country has aggravated the strong suspicions of corruption around the work.
The highway project is part of the ‘New Silk Road’, an ambitious overseas infrastructure investment project started by Beijing in 2013.
The modern version of this trade corridor consists of a land component, with the establishment or financing of railways between China and Europe, and a maritime component, which involves investments in dozens of ports around the world to facilitate Chinese trade.
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