The World Bank’s Board of Executive Directors has approved a €33 million ($38.76 million) loan to Montenegro to enhance the country’s fisheries and agrifood sector. The funding aims to improve service delivery, modernize infrastructure, and help Montenegro comply with European Union standards.
As part of the Climate Resilient and Agrifood Sector Development Project, the investment will finance the construction of Montenegro’s first modern fishing port at Cape Đeran–Velika Plaža in Ulcinj Municipality. The new port will include facilities such as cold storage, refrigeration units, packaging and distribution services, maintenance and repair services, and ice supply systems. These additions are intended to reduce post-harvest losses, improve product quality, and allow fishers access to higher-value markets.
The project also includes establishing a Paying Agency Regional Office to strengthen institutional capacity for implementing EU Common Agricultural Policy requirements. This office will deliver services closer to farmers, streamline payment processing efficiency, and support the rollout of an Integrated Administration and Control System for managing agricultural subsidies.
In addition, the initiative supports creating a comprehensive system for safe collection, disposal, or processing of animal by-products in line with EU regulations. Institutional reforms and capacity-building programs will accompany these investments to reinforce governance and service delivery.
“Investments in fisheries and the agrifood sector are essential to rural livelihoods and to Montenegro’s progress on the EU accession path. By modernizing critical public infrastructure and strengthening institutions, this project will help build a more resilient and competitive economy,” said Christopher Sheldon, World Bank Country Manager for Bosnia and Herzegovina and Montenegro.
This project aligns with several national strategies in Montenegro that focus on sustainable resource management in agriculture and tourism sectors through 2030.
The World Bank is owned by 189 member countries who oversee its operations through governing boards (official website). It provides financing, knowledge sharing, advisory services (official website), and collaborates with governments worldwide on development challenges (official website). Its work focuses on reducing poverty while promoting inclusive growth (official website). With headquarters in Washington D.C., it operates across more than 190 countries (official website).