Montenegrin Delegation Meets World Bank Vice President: Montenegro a Reliable Partner
04/07/2025
During their stay in Luxembourg, where they are participating in the annual meeting of the International Monetary Fund and the World Bank Constituency Meeting, the Montenegrin delegation led by the Minister of Finance Novica Vuković and the CBCG Governor Irena Radović met with the World Bank Vice President for Europe and Central Asia, Antonella Bassani.
Vice-President Bassanni congratulated Montenegro on its constant progress on the road to EU membership, highlighting the recent closure of Chapter 5 - Public Procurement. She added that she was pleased with World Bank being a small part of that success, and that it would continue to participate in projects aimed at economic progress. She also announced a new programme aimed at strengthening regional cooperation and the exchange of mutual experiences between countries.
As an example of positive institutional cooperation, she pointed to the cooperation between the Ministry of Finance and the CBCG especially on the activities related to adherence to the SEPA system and the implementation of the TIPS clone project.
Minister Vuković expressed his gratitude for the continuous cooperation, which has so far resulted in implementing 700 million euros worth projects, the effects of which are seen throughout our country - in the fiscal reform, green transition, digitisation and infrastructure strengthening.
Governor Radović extended her deep gratitude to the World Bank for the continued support in harmonising the regulatory framework with the EU legal acquis and the payment system modernisation. She highlighted the importance of the strategic activities in the adherence to the SEPA system and the implementation of the TIPS clone project, emphasising that they are a key step towards Montenegro's further integration into the European financial space.
During the meeting, they jointly stated that the new Partnership Framework of the World Bank Group for Montenegro, for the period 2025-2029, worth 350 million dollars, confirms the status of Montenegro as a credible partner in implementing ambitious policies of sustainability, climate resilience and European integration.
They expressed full readiness to further improve institutional efficiency and ensure the successful implementation of joint initiatives contributing to long-term economic development and well-being of all Montenegro’s citizens.