Governor Žugić Meets the World Bank Country Director for the Western Balkans

14/02/2023

“Despite the challenging macroeconomic situation, Montenegro’s banking sector is sound with stable operations,” said the World Bank Country Director for the Western Balkans, Xiaoqing Yu, at a meeting with the CBCG Governor Radoje Žugić. Christopher Sheldon, World Bank Country Manager for Bosnia and Herzegovina and Montenegro, also attended the meeting.

Governor Žugić introduced the interlocutors to the CBCG activities to strengthen further the country’s financial stability, such as continuous improvement of the national regulatory framework, strengthening of supervisory capacities, taking adequate measures aimed at mitigating the consequences of the unfavourable economic situation, encouraging banks to provide support to the domestic economy, etc.

Governor Žugić thanked Mrs Yu and Mr Sheldon for the World Bank’s support to the CBCG in the form of technical assistance for activities aimed at modernising payment operations and the preparation of the Law on Digital Assets, as well as for the analysing the transposition of payment regulations and Montenegro’s readiness for inclusion in the SEPA payment system.

At the meeting, they discussed the World Bank Group’s Country Partnership Framework for Montenegro 2023 - 2027, aimed at providing support for a more sustainable and inclusive growth of Montenegro.