CBCG Receives International Award for Excellence in Paris
02/10/2026
The Central Bank of Montenegro (CBCG) has received an international award in recognition of its achievements in advancing women's economic empowerment through the development and availability of data on access to finance for women entrepreneurs, as part of the global WE Finance Code initiative, which the CBCG coordinates at national level.
The award was presented to the CBCG on 1 October 2026 at the WE Finance Code Global Forum in Paris, organised by the OECD, the World Bank, the European Bank for Reconstruction and Development (EBRD), the Women Entrepreneurs Finance Initiative (We-Fi) and the Financial Alliance for Women.
On behalf of the CBCG, Dr Marijana Mitrović Mijatović, Director of the Financial Stability, Research and Statistics Department, accepted the award.
The award recognises the value of the model developed by the CBCG through its coordination efforts and by fostering cooperation among institutions, the financial sector and other partners. Its most significant achievement has been the establishment of a reliable, publicly accessible data framework for monitoring access to finance for women-owned businesses, identifying barriers and developing more targeted policies and financial products.
Montenegro joined the initiative in June 2024, with the signing of a Memorandum of Cooperation between the CBCG and the EBRD in London, while the national initiative was officially launched on 19 March 2025. The CBCG leads its implementation as the national coordinator and the institution responsible for consolidating data, with support from the EBRD and the Frankfurt School of Finance & Management.
The national coalition, coordinated by the CBCG, brings together 28 institutions, including Montenegrin banks, microcredit financial institutions, numerous public institutions, business associations and civil society organisations. Its partners include the Ministry of Economic Development, the Development Bank of Montenegro, MONSTAT, the Tax Administration, the Chamber of Economy, the Association of Montenegrin Banks, the Association of Microcredit Financial Institutions, the Montenegrin Employers Federation, the Secretariat of the Competitiveness Council and the Women's Rights Centre. Signatories to the initiative in Montenegro account for 93% of total banking sector assets. Members of the CBCG-coordinated coalition have undertaken specific commitments to support women's entrepreneurship, while the initiative also established a statistical framework and key indicators for reporting to the OECD.
One of the most significant achievements has been the development of a publicly accessible interactive dashboard featuring gender-disaggregated data on access to finance, available on the CBCG's website. The dashboard draws on data from the CBCG Credit Registry, with business classifications developed in cooperation with MONSTAT and the Tax Administration. It covers data from 2024 onwards and enables the analysis of lending by enterprise size, economic activity, region, interest rate, collateral and loan purpose. In this way, the data serve as a practical tool for understanding the financing needs of women entrepreneurs and monitoring the effectiveness of support measures.
The Global Forum in Paris brought together senior representatives of international financial institutions, central banks, governments and other stakeholders from the public and private sectors. Discussions focused on narrowing the financing gap faced by women entrepreneurs, the importance of high-quality data for informed decision-making, and coordinated action by institutions and the financial sector.
The WE Finance Code forms part of global efforts to advance women's economic empowerment coordinated by the Women Entrepreneurs Finance Initiative (We-Fi), whose Secretariat is hosted by the World Bank. The initiative brings together financial institutions, regulators, development banks and other partners to improve access to finance for micro, small and medium-sized enterprises owned or led by women.
This international recognition of the CBCG acknowledges its achievements in advancing women's economic empowerment and highlights the value of the cooperation the CBCG has developed with domestic and international partners. High-quality data enable more targeted support for women's entrepreneurship and make it possible to measure the results of such efforts. The CBCG will continue to promote the use of these data in developing financial products and policies that create greater opportunities for women to start and grow their businesses.