Continuation of the Women on Boards Montenegro Programme 2023–2026: A New Generation of Women Leaders for Stronger Corporate Governance and a More Competitive Montenegro

12/06/2026

Today, at the CBCG, Governor Irena Radović met with participants of the third and final generation of attendees at the Women on Boards Montenegro programme, implemented by the CBCG in cooperation with the European Bank for Reconstruction and Development (EBRD).

The programme represents a unique national initiative, developed in line with practices in EU Member States, aimed at enhancing corporate governance, fostering women’s leadership, and increasing women’s participation at the highest levels of economic decision-making in Montenegro.

The launch of the third generation of attendees confirms the continuity of institutional efforts to advance women’s economic empowerment, initiated in 2022 when Governor Radović, then serving as Chief Executive Officer of the Investment and Development Fund, launched a national dialogue on women’s economic empowerment and authored the Action Agenda for Women’s Economic Empowerment in Montenegro.

“Today’s meeting marks the beginning of a new cycle of learning and development, while also confirming that Montenegro possesses exceptional human potential. Among us is a new generation of women leaders who have the knowledge, professional integrity, and ambition to assume responsibility, participate in making the most important business and economic decisions, and contribute to the development of their organisations, the economy, and society as a whole. At a time when Montenegro is entering the final phase of negotiations for accession to the European Union, we need the very best people in decision-making positions,” the Governor stated.

She highlighted that the Women on Boards Montenegro programme was created out of the conviction that Montenegro does not lack talented, educated, and capable women, but rather that more opportunities need to be created for their visibility, networking, and professional development.

“This programme is not merely an educational initiative. It represents an investment in better corporate governance, stronger institutions, and a more resilient economy. Experiences across Europe and globally confirm that more diverse boards of directors and management structures make better decisions, manage risks more effectively, and achieve more sustainable results,” the Governor noted.

The Governor recalled that this initiative is particularly significant in the context of Montenegro’s alignment with European corporate governance standards and the implementation of the European regulatory framework, which envisages greater participation of the underrepresented gender at the highest levels of decision-making—at least 40 per cent of board members, or 33 per cent of all director-level positions in large companies.

The participants of the third generation of participants are: Anđela Perić, Irena Fatić, Irena Mašović, Ivana Katnić, Ivana Rajković Medenica, Ivana Šaranović Jovićević, Jelena Petrović, Jovana Vulić, Ksenija Planić, Ljudmila Popović Kavaja, Marija Manja Jovović, Marina Božović, Mileva Marojević, Milena Popović Samardžić, Mina Muković Radonjić, Nela Milošević, Rina Mučaj Demirović, Sandra Škatarić, Sanja Boreta, Sara Ivanović Božović, Tijana Vujošević, and Zvezdana Oluić.

Following the Governor’s address, the participants presented their professional backgrounds, expectations of the programme, and motivations for joining. During an open discussion, they highlighted the importance of mutual support, professional networking, and continuous investment in knowledge as prerequisites for successful leadership and meaningful contributions to Montenegro’s development.

Over the coming months, through intensive work with domestic and international experts, participants will strengthen their knowledge of corporate governance, regulatory frameworks, strategic decision-making, finance, sustainability, and leadership, while also building professional networks essential for their future career development.

With its third generation of participants, the programme will produce a total of 65 women leaders equipped to contribute to the development of Montenegro’s economy, institutions and business environment.

Today, Montenegro is the only country in the region that provides continuous and institutional support for the implementation of this programme, demonstrating its commitment to ensuring that human capital development and the economic empowerment of women form an integral part of the country’s overall economic and social development.

The Women on Boards Montenegro programme is part of a broader framework of activities aimed at the economic empowerment of women, including the global WE Finance Code platform, which Montenegro was among the first countries to join, reaffirming its commitment to creating a more inclusive financial and business ecosystem.