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EBRD adopts 2021-2026 country strategy for Montenegro

Author Radomir Ralev
EBRD adopts 2021-2026 country strategy for Montenegro Photo: EBRD

PODGORICA (Montenegro), September 16 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) has adopted a new country strategy for Montenegro for the 2021-2026 period, focusing on private sector competitiveness, green economy transition and fostering connectivity and integration, it said.

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 by supporting companies, especially small and medium-sized enterprises (SMEs), with measures that promote strengthened capacity, commercialisation and improved governance, the lender said in a statement on Wednesday.

The bank will combine investment in renewables with policy engagement to increase renewable energy capacity and decarbonising the energy sector, accelerating the country's green and just economy transition to meet 2030 energy and climate targets.

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 bank said.

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.