Press release: Prime Minister Zeljko Sturanovic meets with EBRD delegation headed by President Jean Lemierre

Prime Minister Zeljko Sturanovic had talks in Podgorica today with a delegation of the European Bank for Reconstruction and Development, headed by EBRD President Jean Lemierre. The talks were attended by Finance Minister Igor Luksic.

Having welcomed the delegation, the Prime Minister expressed his satisfaction with the success of cooperation so far and the hope that it would be continued and promoted, particularly after setting up an EBRD office in Podgorica.

Montenegro maintains a close cooperation with the Bank, which invested a considerable amount of money in Montenegro, by way of a 28 million loan for projects in the area of air and road transport and company privatization.

With Montenegros accession to the EBRD membership late October last year, requirements were met for a further successful cooperation with the Bank on both the existing and future projects.

During the Annual Meeting of the European Bank for Reconstruction and Development in May 2007, a three year cooperation protocol was signed with Montenegro, providing for 30 million worth of the Banks financial support for the regional waterworks construction and railway reconstruction projects.

This proves that, a year after the referendum, Montenegro is a stable country in political, economic and security terms, focused on strengthening its democratic institutions and administrative capacity and taking confident steps on the path of European integration.

Mr Lemierre expressed his satisfaction with the EBRDs cooperation with Montenegro and noted that good communication was the basis for future cooperation and implementation of a series of new projects in the private sector, infrastructure development and the energy sector, as the cornerstones of development in general.

It was agreed that the EBRDs experience, assistance and support was invaluable to Montenegro, particularly in the pre-privatization process and in the aforesaid sectors, where a great potential for cooperation and implementation of a series of strategic projects was recognized.