CBCG Governor Meets Ambassadors of the Kingdom of Belgium and the Kingdom of Netherlands


Governor of the Central Bank of Montenegro (CBCG), Radoje Žugić, met today with the Ambassadors of the Kingdom of Belgium and the Kingdom of Netherlands, Koen Adam and Joost Reintjes.

The Governor presented to the ambassadors the economic situation in the country with a particular focus on the banking sector. “Last year was very successful for us, with strengthened banking sector’s stability, confirmed with banking sector indicators characterised with positive trends”, pointed out the Governor. He added that the banks’ liquid assets at end-November increased 46% compared year-on-year. At the same time, deposits increased 24% over the same period. Through the intensive lending activity, banks contributed to economic recovery.

During the meeting, the Governor thanked the ambassadors for the support provided by the Bank of Belgium and De Nederlandsche Bank to the CBCG through numerous projects. One of them was the ESCB regional project titled “Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks”, which started in March 2019. Moreover, De Nederlandsche Bank was a partner in the twinning project “Support to Regulation of Financial Services” that ended in July 2020. Its main objective was to provide more stable, sustainable, and efficient financial services, in line with EU best practices to support the private sector development and strengthen the economy’s competitiveness.

Both ambassadors expressed readiness to contribute to the opening of perspectives for investments of Belgian and Dutch investors in Montenegro through their engagement and close cooperation with Montenegrin institutions.