Press release: President of the Republic Filip Vujanovic and Prime Minister Milo Djukanovic met with the EBRD delegation headed by the Bank's President Jean Lemierre

President of the Republic of Montenegro Filip Vujanovic and Prime Minister Milo Djukanovic met in Podgorica with the EBRD delegation headed by EBRD President Mr Jean Lemierre.

The EBRD senior representatives have expressed their satisfaction with the results achieved in the field of reform and macroeconomic stability in Montenegro.

They have confirmed the readiness to expand the partnership, particularly through banking sector support programs.

Reference was also made to the forthcoming annual meeting of the EBRD Board of Governors taking place on 22nd and 23rd May in Belgrade. That was said to be an important opportunity to exchange opinions and continue dialogue on all issues of importance for the economic development of the counties of the Western Balkans. The activities scheduled for this meeting, including the Investment Forum, were found to be a good opportunity for Montenegro to acquaint the international community with the results of reform and promote its investment environment and opportunities. By the same token, senior representatives of the EBRD were suggested that participants of the Banks forthcoming annual meeting should take part in the Third Business Investment Summit, taking place on 19th and 20th May in Sveti Stefan, which was gladly accepted.

As for bilateral cooperation programs, opinions were exchanged concerning the rate of implementation of the project to which the EBRD has already provided financial support. Both parties expressed satisfaction with the signing of the Credit Contract for the Modernization and Development of the Flight Control Management System. This project will improve the safety of air transport and meet European standards. Referring to the other initiated cooperation programs, emphasis was placed on road infrastructure rehabilitation projects, settlement of waste water problems on the Montenegrin coast, support to the privatization process and development of small and medium-sized enterprises.

The talks were attended by Minister of Finance Igor Luksic and Central Bank Council Chairman Ljubisa Krgovic.