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EBRD focusing on diversification of Montenegro's economy - country head

Author Radomir Ralev
EBRD focusing on diversification of Montenegro's economy - country head Source: EBRD

PODGORICA (Montenegro), January 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) sees economic diversification as a key priority in its 2021-2026 strategy for the country, Montenegro's Chamber of Commerce said on Wednesday.

The diversification of Montenegro's economy would increase its resilience and help spread the benefits of development to more sectors in a more stable and sustainable way, the Chamber of Commerce quoted EBRD country head for Montenegro, Remon Zakaria, as saying in an intrerview.

Expanding the tourist offer beyond summer coastal vacations to include nature-oriented, rural, culinary, health and sports tourism would increase the diversification of the sector, Zakaria said.

"This alternative tourist offer could attract interest in the central and northern parts of the country rich in cultural and natural heritage, and increase Montenegro's attractiveness outside the main season. This, in turn, would also help mitigate environmental and social risks caused by high tourist concentrations," the EBRD head of Montenegro said.

The green transition is also a key priority for EBRD as it will increase the competitiveness and resilience of Montenegro's economy.

"As part of its five-year green strategy, the EBRD has committed itself to allocating at least 50% of green projects by 2025 and reducing carbon dioxide emissions by at least 25 million tonnes. In addition, the EBRD has committed to harmonising all its activities with the goals of the Paris Agreement by the end of 2022," Zakaria added.

The EBRD appointed Zakaria as country head for Montenegro in November 2021. Zakaria succeeded Jaap Sprey, who joined the European Commission in Brussels.

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