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Montenegro, Strengthening the economy through the cooperation of the Investment and Development Fund and the European Investment Bank

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Representatives of the Investment and Development Fund (IDF) and the European Investment Bank (EIB) agreed on additional strengthening of the strategic partnership through new models of cooperation, in order to more strongly support the Montenegrin economy.

At the meeting of IRF Executive Director Irene Radović with EIB Director for Montenegro, Serbia and Bosnia and Herzegovina, Kadir Bačecik and EIB Manager for Montenegro, Giovani Camis, satisfaction with the quality of the cooperation so far was highlighted.

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“The advantages that micro, small and medium-sized enterprises in Montenegro, as well as vulnerable categories, including women’s entrepreneurship and youth businesses, achieve through IRF/EIB financing have been noted”, the IRF press release states.

Radović thanked the EIB for its continuous strategic support for the financing of the Montenegrin economy, as well as the support for the strengthening of the IRF based on the best practice of state development institutions in the European Union (EU), which further strengthens the potential for support and transition of the Montenegrin economy.

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She emphasized the importance of the green transition and the implementation of climate projects in cooperation between the IRF and the EIB, as the climate bank of the EU, stressing that the IRF in the previous period played a key role in the pandemic period and current activities aimed at the post-pandemic recovery of the Montenegrin economy.

EIB representatives expressed their satisfaction with the cooperation, praising the proactiveness of the IRF management in finding innovative and effective models of cooperation, all with the aim of improving support for the Montenegrin economy.

They also announced that the EIB is ready for additional strengthening of cooperation with the IRF, in order to ensure the promotion of green investments for economic and social development, as well as creating opportunities for more efficient use of funds available to Montenegro based on the Investment Framework for the Western Balkans, local media writes.

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