The government of Montenegro has bailed out two shipowners that were unable to pay instalments on bulkers to a Chinese lender.
The state will repay an overdue €4.27m ($4.7m) to the Export-Import Bank of China (China Eximbank) on behalf of Crnogorska Plovidba and Barska Plovidba, according to a government statement cited by CEEMAR.
The debt was supposed to be repaid by 21 July, but the two companies missed the deadline, not for the first time.
