Certificates Awarded to the Second Generation of Participants in the Women on Boards Montenegro Programme

18/06/2025

Today, the CBCG organised the completion of the Women on Boards Montenegro educational programme with the ceremonial awarding of certificates to the second generation of participants.

The programme, initiated in 2023, aims to strengthen the presence of women in economic decision-making positions in Montenegro, fostering female leadership potential as a resource for economic development.

Speaking on behalf of the second generation of WoB participants, Sanja Gardašević highlighted that this programme was not just an opportunity to learn but also a powerful reminder of shared challenges and the strength of female solidarity.

“Each new perspective we’ve gained brings with it a responsibility—to participate actively, not to retreat in the face of challenges, to raise our voices when it matters. One thing is clear: women are not equally represented in decision-making positions. Therefore, I thank the Central Bank of Montenegro and all partners for making the right decision—to invest in women already ready to take on responsibility,” said Gardašević.

Ramon Zakaria, Head of Office for the European Bank for Reconstruction and Development (EBRD), the key partner in the programme’s implementation, addressed the audience:

“Women should be at every decision-making table—not just out of fairness, but because it leads to better outcomes. Diverse boards deliver stronger performance, foster innovation, and better reflect the societies they serve. We are proud to support initiatives like the ‘Women on Boards’ programme, which prepares women for future leadership roles, awaiting the upcoming Law on Companies that will mandate gender representation. We especially value the Central Bank’s leadership and vision, and remain committed to working together to promote inclusive and sustainable development in Montenegro,” said Zakaria.

Speaking at the certificate awarding ceremony, the CBCG Governor, Irena Radović, emphasised that the WoB programme is not merely an educational initiative but a strategic response to the needs of Montenegrin society and the economy.

“The Women on Boards programme is a strategic initiative preparing Montenegro for full EU membership and complete regulatory alignment of the economic and financial system. From the beginning, our vision has been that women who possess knowledge, integrity, and leadership potential occupy decision-making roles in large private and public enterprises in Montenegro, in line with the EU Directive on gender-balanced representation in key economic decision-making positions. This is the only path to sustainable, strong, and prosperous economic development and a way to demonstrate that meritocracy and quality are the gateways to great achievements and the sole route to a sound economic future and democratic maturity of Montenegrin society,’ said Governor Radović.

During the months-long training, programme participants had the opportunity to enhance their knowledge and skills in corporate governance, regulatory frameworks, and leadership competencies by working with reputable experts from both Montenegro and abroad.

The Women on Boards programme is part of a broader initiative for the economic empowerment of women and the global We Finance Code platform, of which Montenegro was one of the first members.

Across its two cycles so far, a total of 42 women have successfully completed the programme. These women have now established a strong network of future leaders ready to assume key roles in economic processes in large private and public enterprises, in line with the EU Directive on gender-balanced representation in key economic decision-making positions, which has been transposed into Montenegro’s new Law on Companies, expected to be adopted by the end of July 2025.