The CBCG Governor meets with Deutsche Bundesbank representatives


The Governor of the Central Bank of Montenegro (CBCG), Radoje Žugić, met today with the representatives of the Deutsche Bundesbank, the Director of the Centre for International Central Bank Dialogue, Martin Dinkelborg, and the Coordinator for IPA-funded projects, Peter Spicka. At the meeting, they discussed the continuation of the cooperation between the CBCG and the Deutsche Bundesbank, especially in implementing the two institutions’ bilateral programmes and the joint Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks financed from EU funds.

Governor Žugić thanked for the Deutsche Bundesbank’s cooperation and support to the CBCG for two full decades. He stated that this institution’s support for the CBCG was particularly significant during the coronavirus pandemic and in projects aimed at strengthening CBCG capacities and harmonising Montenegrin legislation with EU acquis.

“Cooperation with the Deutsche Bundesbank, primarily in implementing international and bilateral projects, is significant for the CBCG. The continuous support provided by the Deutsche Bundesbank to the CBCG is particularly significant in projects the CBCG implements on its EU membership path, such as implementing the twinning project “Support to Regulation of Financial Services” led by the Deutsche Bundesbank. The project resulted in harmonising the Montenegrin Supervisory and the regulatory framework, primarily through the adoption of the Law on Credit Institutions and a large number of accompanying decisions with the legal EU acquis”, Governor Žugić noted.

The Director of the Deutsche Bundesbank’s Centre for International Central Bank Dialogue stated that international cooperation is a crucial segment of the Deutsche Bundesbank’s operations. Mr Dinkelborg also said that this institution would continue to support the CBCG in European integration, primarily through the EU supported and financed projects.