CBCG - EBRD Meeting

23/02/2024

The CBCG Governor, Ms Irena Radović and her team met today with the European Bank for Reconstruction and Development (EBRD) team, led by Mr Remon Zakaria, Head of the EBRD Office in Montenegro. The EBRD representatives placed in London, Ms Oksana Pak, the Associate Director for Gender and Economic Inclusion, and Mr Miloš Kosić, Head of the Department for Financial Institutions in Bosnia and Herzegovina, Montenegro, North Macedonia and Serbia, also attended the meeting.

The main topic of the meeting was the WE Finance Code project, which aims to improve the financing of women-managed small and medium-sized enterprises. To take further concrete steps in implementing the project, the CBCG Governor and the EBRD President will sign a Memorandum of Understanding between these two institutions.

Mr Zakaria pointed out that, through current projects in Montenegro, the EBRD “supports the implementation of numerous infrastructure projects and the strengthening of the SME sector, which is a key source of the Montenegrin economy’s growth and development.”

Governor Radović emphasised the need for further engagement in improving access to financing sources, especially for vulnerable categories, including women and youth. “I believe that we can contribute to creating a more favourable business environment and improving access to finance for MSMEs through carefully designed projects and close cooperation between supervisors, the financial sector and the EBRD,” said the Governor.

At the meeting, they also discussed concrete initiatives, the implementation of which would contribute to achieving the objectives they agreed upon and continued communication on this issue.