Montenegro strategy

Strategy (239KB - PDF)

Local language translation  (408KB - PDF)

Challenges

Key objectives include improving infrastructure, developing the tourism sector, supporting competitiveness and economic diversification, strengthening the financial system in the post-crisis environment, tackling high levels of carbon intensity, improving the business environment (with a focus on continuing to attract foreign investment and better management and corporate governance of local companies, and completing the restructuring and privatisation of the few remaining state-owned enterprises and the commercialisation of key assets such as ports and airports.

The EBRD and Montenegro

In infrastructure, the Bank will focus on key projects with significant transition impact, prioritising projects in transport, energy and municipal infrastructures with a material impact on regional integration and environmental improvement.

Given Montenegro’s tight fiscal space, the Bank will enhance its cooperation with the IBRD, the EIB, and the EU and will work with all partner IFIs in the context of the newly established Western Balkans Investment Framework (WBIF).

In the financial sector, the Bank will support commercial banks and microfinance institutions, including with equity investments and with specific products to allow the banks to resume and grow further their lending activities and eliminate their balance sheet mismatches.

Given the strategic relevance of economic diversification in the country, the Bank will invest in all sectors where local SMEs can have competitive advantages and where there is a prospect of regional expansion. This will mostly be done through financial Intermediaries.

Across sectors and in view of the high carbon intensity in Montenegro, the Bank will intensify its activities under the Sustainable Energy Initiative in energy efficiency and renewable energy projects, including through the Western Balkans Sustainable Energy Credit Line Facility (WeBSECLF) and the WeBSEDFF.

Last updated 21 April 2010