Governor Žugić meets the Head of the EBRD Montenegro Office: Door for Intensified Cooperation opened

13/04/2020

The Governor of the Central Bank of Montenegro, Mr. Radoje Žugić, met today with the Head of the European Bank for Reconstruction and Development (EBRD) Montenegro Office in Montenegro, Mr. Jaap Sprey.

Mr Sprey pointed out that the EBRD has received significant demand for its Solidarity Package of one billion euros to support economies that are under high pressure due to the coronavirus pandemic. The Head of the EBRD Office reminded that the initial billion-dollar Solidarity Package, approved by EBRD shareholders on 13 March, is intended for existing clients who have immediate needs for working capital and liquidity. 

A significant expansion of the Solidarity Package is expected shortly, for wider purposes, opening the door for even more intensive cooperation between the EBRD and participants in Montenegro.

Governor Žugić emphasised that the EBRD has good cooperation with our banking sector and micro-credit institutions, and expressed the expectation that the EBRD will meet the increased demands for affordable credit lines for both existing and new clients in Montenegro’s banking sector. In addition to the banking sector, the EBRD is ready to continue to support existing clients in all SME sectors as well as in energy and infrastructure through the Solidarity Package.