Governor of the Central Bank of Montenegro (CBCG), Dr. Irena Radović, participated in a high-level regional roundtable in Skopje titled “Advancing Gender Equality in Leadership and Governance,” organized by the European Investment Bank (EIB), the European Commission, and the Women on Boards Adria (WOBA) initiative.
In her address, Governor Radović presented Montenegro’s experience in promoting inclusive leadership and implementing systemic initiatives in economic decision-making, highlighting key projects led by the CBCG.
She recalled Montenegro’s first National Conference on Women’s Economic Empowerment in 2022, which led to the adoption of the Agenda for Women’s Economic Empowerment, a strategic document laying the foundation for systemic change.
In line with this agenda, her team prepared and initiated amendments to the Law on Companies, adopted by the Parliament of Montenegro in August 2025. The new legislation, aligned with the EU Directive on Gender Balance in Corporate Boards, requires that at least 40% of board seats in large companies be held by members of the underrepresented gender by June 2026.
Radović emphasized that this reform marks a key step toward harmonization with EU standards, fostering more inclusive and sustainable decision-making structures.
“Our goal is not only to meet EU standards but to live them — through responsible and agile institutions, a fair and empowered market, and a society that offers equal opportunities to all,” Radović said. “Montenegro strives to remain a regional leader in inclusive economic leadership and in applying European values that promote growth, equality, and convergence with the EU.”
She also highlighted the Women on Boards Montenegro 2023–2026 program, implemented by CBCG in cooperation with the European Bank for Reconstruction and Development (EBRD) and the Frankfurt School of Finance and Management. The program has already trained two cohorts of more than 40 outstanding women from both the public and private sectors, forming a strong network of future female leaders. Radović announced the launch of the third generation of participants, reaffirming CBCG’s commitment to increasing women’s representation in leadership and economic decision-making.
Radović further spoke about the We Finance Code initiative, through which Montenegro has joined a global network of countries promoting women’s financial inclusion. With support from the EBRD and the Frankfurt School, CBCG has developed and published an interactive dashboard — a digital tool that provides detailed, gender-disaggregated data on access to finance, marking a pioneering step in the region.
Reflecting on Montenegro’s experience, the governor identified three key factors for achieving sustainable and inclusive economic growth: strong institutional commitment, cooperation among public, private, and civil sectors, and investment in women’s education and mentorship.
“Every institution has a responsibility to help create an environment where the potential of women and youth is recognized and encouraged,” she stated.
The roundtable gathered representatives from regional institutions, the business community, and international organizations. Opening remarks were delivered by Björn Gabriel (Head of the EIB Office in North Macedonia), Biljana Braithwaite (President of WOBA), Michalis Rokas (EU Ambassador to North Macedonia), Sanja Božinovska (Minister of Energy), and Tanja Mihajlovska Dimitrievska (WOBA Ambassador for North Macedonia).
Participants discussed how greater gender inclusion in decision-making can enhance governance, competitiveness, and sustainable economic growth. The event also served as a platform to strengthen regional cooperation, promote European values, and align initiatives contributing to stronger economic growth and EU convergence.
