WORLD BANK PRAISES CBCG’S REFORM RESULTS: CONTINUATION OF STRATEGIC PARTNERSHIP WITH WORLD BANK AND IMF
15/10/2026
On the second day of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Bangkok, a delegation of the CBCG, led by Governor Irena Radović held bilateral meetings with World Bank Executive Director Eugene Rhuggenaath and World Bank Vice President for Europe and Central Asia Antonella Bassani. The discussions focused on the results of the reforms within Montenegro’s financial system, further payment infrastructure modernisation, safeguarding financial stability, and strengthening the institutional capacity of the CBCG in the run-up to European Union membership.
World Bank representatives praised the CBCG’s reform achievements, particularly in modernising the payment system and integrating Montenegro into European financial infrastructure, highlighting their significance for other countries in the region as well. A mutual commitment to continuing the strategic partnership was reaffirmed, with a specific focus on digitising financial services, strengthening institutional capacity, and advancing financial inclusion.
During the meeting with World Bank Executive Director Eugene Rhuggenaath, Governor Radović highlighted the importance of the long-standing partnership between the CBCG and the World Bank in implementing key payment system reforms. She made particular reference to Montenegro’s accession to the Single Euro Payments Area (SEPA), which has enabled faster, simpler, and more affordable cross-border transactions for citizens and businesses, as well as the TIPS Clone instant payment system project, representing a major step forward in modernising payment infrastructure in line with European standards. Opportunities for further enhancing cooperation were also discussed, including ongoing World Bank support through the Financial Sector Advisory Centre (FinSAC) to further strengthen the CBCG’s supervisory and analytical capabilities.
At the meeting with Antonella Bassani, World Bank Vice President for Europe and Central Asia, Governor Radović outlined the next steps in modernising the payment system, including the development of new digital services and QR code payment options. They also discussed the enhancement of financial inclusion and women’s economic empowerment as critical prerequisites for inclusive and sustainable economic growth.
In this context, Governor Radović expressed her gratitude to the World Bank for its support to date and recalled the recent international Data Excellence Award presented to the CBCG for its achievements in improving the availability and quality of data on access to finance for female entrepreneurs, under the global WE Finance Code initiative. This award underscores the importance of the CBCG’s efforts to establish conditions for fairer access to financial services and stronger economic participation for women.
As part of the Annual Meetings, Governor Radović also attended a regional working dinner for finance ministers and central bank governors, dedicated to Europe’s economic outlook, key macroeconomic challenges, and strengthening the resilience of European economies. Attention was given to the latest IMF Regional Economic Outlook for Europe report, which identifies European Union accession as a transformative development opportunity for the Western Balkans, highlighting the importance of robust institutions, structural reforms, and deeper integration into the European Single Market.