The World Bank Group's Board of Executive Directors has discussed a new Country Partnership Framework (CPF) for Montenegro, covering the period from 2025 to 2029. This strategy is designed to support sustainable economic growth and enhance climate resilience as Montenegro continues its efforts toward European Union accession.
The CPF aims to unlock Montenegro’s economic potential through improved fiscal management, increased competitiveness, and better integration with other European markets. The strategy places significant emphasis on environmental sustainability, including initiatives in waste management, forestry, water systems, renewable energy, and energy efficiency projects. These efforts aim to position Montenegro at the forefront of the green transition.
Additionally, the framework promotes sustainable natural resource management, climate adaptation, and protection of natural areas. These measures are expected to improve overall quality of life, enhance public health, and increase Montenegro’s attractiveness as a tourism destination.
“Our latest strategy for Montenegro embodies a shared vision for a prosperous and environmentally sustainable Montenegro," said Christopher Sheldon, World Bank Country Manager for Bosnia and Herzegovina and Montenegro. "By combining economic support with a focus on green development, we aim to steer Montenegro toward a resilient future on its journey toward EU integration.”
The International Finance Corporation (IFC), part of the World Bank Group focusing on the private sector, will leverage its advisory expertise to catalyze significant private sector investments. This approach, combined with guarantees provided by the Multilateral Investment Guarantee Agency (MIGA), aims to amplify the impact of the World Bank's initial $350 million in lending committed as part of the CPF.
"Our strategy for Montenegro reflects IFC’s commitment to fostering private sector-led growth while supporting the country’s green transition," said Nicolas Marquier, IFC Regional Manager for the Western Balkans. "By focusing on connectivity, sustainable tourism and services, renewable energy, and broader access to finance, we aim to help Montenegro accelerate its economic integration and build a more resilient and sustainable future in alignment with its EU aspirations."
Currently, the World Bank's portfolio in Montenegro includes three projects totaling $63.18 million along with two regional projects amounting to $31.30 million.