PM Marković meets with Vice President of EBRD: EBRD will help further development of Montenegro

Podgorica, Montenegro (31 August 2017) -- In the past eight months, Montenegro has made progress in consolidating public finances, economic growth and improving the business environment, Minister of Montenegro Duško Marković said today at a meeting with Vice President of the European Bank of Reconstruction and Development Pierre Heilbronn, who praised the successes in the political and economic terms that our country has achieved in the previous period.

According to the Prime Minister, from the beginning of 2017, EUR 27 million of revenues was collected more than in the same period last year and EUR 7.4 million more than planned for this year. As he added, Montenegro records a notable increase in the economy which is more than four percent, according to estimates for six months. The Prime Minister stressed the strong momentum of investment activity and said that he believes that joining NATO has contributed to that. European integration, which is in a special focus of the Government's work, is perceived as a positive for Montenegro and its further development.

The Prime Minister assessed the previous cooperation with the EBRD as a positive and stimulating for the development and progress of our country, expressing gratitude for the support through a total of 55 projects worth over EUR 530 million. The total value of EBRD-funded projects currently being implemented is EUR 360 million, and the total EBRD investment per capita, according to Heilbronn, is the highest in Montenegro.

Recalling the importance of foreign investment and a favorable business environment, Heilbronn said that the EBRD is willing to help with the improvement of the investment climate, pointing to the fact that foreign investors, when deciding on capital investment, often consider the regional context in which the state is. In this regard, he emphasised the importance of strong economic regional integration and welcomed the activities that are being implemented in this field through the Berlin Process. The both sides noted the importance of implementation of the Action Plan adopted at the recently held Summit in Trieste.

The officials also agreed on the need for making the best use of potentials in agriculture, green energy and infrastructure. In this context, they emphasised the importance of building the Bar-Boljare motorway, reconstruction of railway infrastructure and making the best use of airports, which are of great importance for the improvement of tourism. Prime Minister Marković said that the Government is currently looking at the possibilities for development of the overall concept of making the best use of airports in order to become modern airports and be part of a better quality of the entire transport infrastructure that would provide greater accessibility of Montenegro. In terms of their development, the Government is also considering a financing model that will not endanger public finances.

Vice President of the European Bank of Reconstruction and Development expressed readiness to assist Montenegro in all fields important for its further progress and development.

PRIME MINISTER'S OFFICE