The European Bank for Reconstruction and Development (EBRD) may increase its financing for Montenegro’s Bar-Boljare highway beyond the 200 million euros it has already provided, EBRD President Reno-Baso told TVCG. The bank is also discussing support for bypasses and other parts of Montenegro’s economy.
The proposed bypasses around Podgorica and towards Bar remain in the preparatory phase. Reno-Baso said the EBRD is assessing their environmental and social impact while discussions continue on how to finance them. Each project is estimated to cost several hundred million euros, reflecting the tunnels and bridges involved.
For small and medium-sized enterprises, the bank provides financing through partner banks and advisory programmes. Reno-Baso said its technical assistance helps businesses prepare for European standards, anticipate changes, develop exports and access the European market. She described Montenegro’s EU accession prospects as an opportunity for these companies, and said continued support for women entrepreneurs and young people is a priority.
The EBRD is also running auctions to attract investors and encourage competition in renewable energy, a process Reno-Baso said can help the state secure more favourable prices. She identified hydropower, wind and solar energy as strategic areas, citing Montenegro’s links with Italy and neighbouring countries as a basis for potential development as a regional electricity hub. Foreign investors are already showing interest in renewables, she said.
Reno-Baso also pointed to tourism, agriculture and technology as areas that could strengthen competitiveness and diversify the economy. In agriculture, she highlighted organic production and access for domestic products to European markets.
