Strategic Cooperation between CBCG and UNDP for a Sustainable and Digital Financial System

09/04/2025

The CBCG Governor, Irena Radović, and the (UNDP Resident Representative for Montenegro, Ekaterina Paniklova, signed an agreement on strategic cooperation through the FINSTEM: Financial Innovation, Sustainability, and Transformation for EU and FutureReady Montenegro Financial Sector project. The project aims to accelerate the digital transformation of the CBCG and modernise the financial sector. This initiative is a significant step forward in strengthening Montenegro’s financial infrastructure and aligning it with contemporary European standards.

Governor Radović stated that the signed agreement confirms a joint commitment to reforms that enhance the Montenegrin financial system’s resilience and efficiency. “Cooperation with UNDP will facilitate the digital transformation of the CBCG, enhance the regulatory and operational framework, and modernise the entire financial sector. Our shared goal is to build a more stable, inclusive and efficient financial system that meets the needs of Montenegro’s citizens and the economy,” she said.

Ekaterina Paniklova emphasised that UNDP remains a reliable partner to Montenegro in implementing digital transformation and sustainable development goals. “This cooperation reaffirms our joint commitment to enhancing a financial system that is modern, efficient, inclusive, resilient and sustainable. By working together, we are shaping a financial ecosystem that adheres to modern standards and paves the way to a greener and fairer future,” Paniklova noted.

The agreement envisages comprehensive cooperation in developing the financial sector, enhancing digital infrastructure, supporting innovation, strengthening system security and resilience, developing professional capacities, and promoting sustainable and green financial practices.

This agreement will support the broader harmonisation of Montenegro’s financial system with the EU regulations and standards.