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EBRD Adopts New Country Strategy For Montenegro

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The European Bank for Reconstruction and Development (EBRD) has adopted a new country strategy for Montenegro for the period 2021-2026 with three priorities:

Strengthen private sector competitiveness 

The EBRD’s key priority in Montenegro is to help diversify the country’s economy to reduce reliance on seasonal tourism and to improve the business environment. The Bank stands ready to support companies, especially small and medium-sized enterprises (SMEs), with measures that promote strengthened capacity, commercialisation and improved governance. These measures include direct finance, short-term liquidity, tailored advice and policy engagement. The Bank is also leading the effort to support undeserved segments via the promotion of skills-enhancing solutions, greater financial inclusion and equal access to opportunities.

Support Montenegro’s green economy transition

Montenegro has good potential for renewable energy sources and the EBRD is well positioned to help accelerate the country’s green and just economy transition to meet its 2030 energy and climate targets. Based on its Green Economy Transition approach and building on its strong track record, the Bank will combine investment in renewables with policy engagement to increase renewable energy capacity and decarbonising the energy sector. The Bank’s priority is to invest in low carbon and climate resilient municipal infrastructure and related services, including water and wastewater, waste management and district heating.

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Foster connectivity and integration

Working closely with multilateral partners such as the Western Balkans Investment Framework (WBIF), the EBRD is uniquely placed to enhance Montenegro’s integration with regional markets through the development of cross-border transport and energy networks. The EBRD also continues to support initiatives to enhance countrywide access to information and communication technologies, including to under-served populations, by exploring options to develop broadband infrastructure that reaches more remote rural areas.

Source: ebrd.com By Bojana Vlajcic, Photo: Olga Brajnovic on Unsplash

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