CBCG and UNDP: Together towards a Modern, Green and Resilient Financial System
08/10/2025
The CBCG Governor Irena Radović met today with Haoliang Xu, Acting Administrator of the United Nations Development Programme (UNDP) and UN Under-Secretary-General, who is paying an official visit to Montenegro on the occasion of the 60th anniversary of UNDP. The UNDP delegation also included Ekaterina Paniklova, UNDP Resident Representative in Montenegro.
During the meeting, both sides highlighted the excellent cooperation between CBCG and UNDP, particularly through the FINSTEM project, which represents the foundation of CBCG’s digital transformation and a strong contribution to the country’s strategic objectives of sustainable development and European integration.
Governor Radović emphasised that the FINSTEM project will support faster digitalisation and modernisation of the financial system, and strengthen its resilience to climate and natural risks.
“Through the FINSTEM project, CBCG is developing analytical and technical capacities for assessing climate and natural risks, creating resilience scenarios, and enhancing regulatory instruments that will enable a safer, more transparent and more resilient financial system,” said the Governor.
Mr Xu congratulated the Governor and the CBCG team on the operational entry of Montenegrin banks into the SEPA system, stressing that this significant step, together with progress in developing a green financial ecosystem, confirms CBCG’s visionary approach.
“Montenegro’s entry into SEPA and its progress in developing a green financial ecosystem that strengthens the economy’s resilience confirm the CBCG’s visionary approach. UNDP is proud to be a partner in this process. Through our joint efforts in digitisation, strengthening cybersecurity, and building resilient infrastructure, we are supporting the CBCG in aligning with EU standards and applying the best global practices. Together, we are building a model of a sustainable and inclusive financial system that can serve as an example for the entire region,” Mr Xu stated.
Radović and Xu also discussed the process of “greening” CBCG, which involves integrating environmental and natural risks into regulatory and supervisory policies, in line with the best regulatory practices of Eurosystem banks.
At the end of the meeting, they confirmed that CBCG and UNDP will continue to strengthen their partnership with the aim of advancing processes that contribute to the resilience of the financial system, financial inclusion, and sustainable development.