The Central Bank of Montenegro (CBCG) and the United Nations Development Programme (UNDP) in Montenegro have signed a strategic cooperation agreement under the FINSTEM project: Financial Innovation, Sustainability and Transformation for EU and FutureReady Montenegro Financial Sector.
The project aims to accelerate the digital transformation of the CBCG and modernize Montenegro’s financial sector, aligning it with contemporary European standards. This initiative represents a significant step in strengthening the country’s financial infrastructure and enhancing its resilience.
CBCG Governor Irena Radović emphasized that the agreement reflects a shared commitment to reforms that will improve the efficiency and stability of Montenegro’s financial system.
“Our partnership with UNDP will drive the digital transformation of the CBCG, enhance regulatory and operational frameworks, and modernize the financial sector as a whole. Together, we are building a more stable, inclusive, and efficient financial system that meets the needs of Montenegro’s citizens and economy,” she stated.
UNDP Resident Representative Ekaterina Paniklova highlighted UNDP’s continued support for Montenegro’s digital transformation and sustainable development goals.
“This collaboration reaffirms our joint dedication to fostering a modern, efficient, and resilient financial system focused on inclusivity and sustainability. Through collective action, we are shaping a financial ecosystem that meets global standards and paves the way for a greener and more equitable future,” Paniklova said.
The agreement outlines comprehensive cooperation in financial sector development, including enhancing digital infrastructure, supporting financial innovation, strengthening cybersecurity and system resilience, building professional capacities, and promoting sustainable and green finance practices.
Additionally, the partnership will support Montenegro’s broader efforts to harmonize its financial system with EU regulations and standards, further advancing the country’s European integration agenda.
This initiative underscores the CBCG and UNDP’s joint commitment to a future-ready financial sector that drives economic growth, sustainability, and digital progress in Montenegro.
