Deputy Prime Minister and Finance Minister, Mr. Igor Lukšić, PhD., met with the Vice – President of German Development Bank KfW, Mr. Ronald Siler.

The Deputy Prime Minister Lukšić, thanked the Vice - President Mr. Siler on extremely successful cooperation in the previous period. “KfW is one of the most important partners and donors of Montenegrin Government and with your support we have implemented a number of significant projects in public utility area, waste water treatment, tourism, energy sector, etc. All the aforementioned is contributing to creating the necessary preconditions for sustainable tourism development and the overall development. At the same time, the support of the KfW aimed at improving the banking sector liquidity, small and medium – sized business was an important aspect of the Government’s package of measures aimed at overcoming the consequences of the crisis. I hope that banks will soon invest the remaining amount of 10 million Euros in small and medium - sized enterprises and that the overall support will improve the entire liquidity. Strengthening of credit activity and a greater connection between the banks and the economy is the key to further development and recovery of Montenegrin economy and in that light the Government has undertaken all necessary measures” - said the Deputy Prime Minister Lukšić. The KfW Vice - President has briefed the Deputy Prime Minister Lukšić on many open possibilities of further cooperation, especially in the field of energy, energy efficiency, and solar energy. He also pointed out the possibility that KfW takes part in the implementation of hydropower projects on the river Moraca in the long term. “We are still considering the options on how to implement this support, but in any case the KfW is interested” - said the Vice – President Siler. The meeting was used as the opportunity to discuss the general economic and financial situation of Montenegro. Mr. Lukšić has briefed the Vice – President, Mr. Schiller on the current activities of the Government aimed at reducing the public consumption, as well as activities related to the adoption of a set of financial system laws, operations commencement of the Investment Development Fund, restructuring of large companies, etc. “We are expecting that the Investment Development Fund, as a new Government’s policy instrument, will contribute to improving the liquidity of the economy, as well as the strengthening of credit activity. In this regard, the Fund is an important instrument for initiating these important segments of the economy - said the Deputy Prime Minister Lukšić.