Montenegro has completed 34 of 41 reform measures under the latest semi-annual review of its Reform Agenda, allowing the country to access €97.3 million in European Union support linked to private-sector development, digitalisation, energy transition, human capital and the rule of law.
The government reported on 9 July that the completed obligations represent 83% of the reform steps covered by the review. The financial support reflects a growing link between the EU integration process and direct financing flows, moving beyond legislative alignment alone.
Development Bank of Montenegro receives €30 million CEB facility
The government also approved a new financing arrangement between the Council of Europe Development Bank (CEB) and the Development Bank of Montenegro. Under the agreement, CEB will provide a €30 million loan covering up to 70% of eligible expenditure under a programme with a total value of €43 million.
The financing will support both investment and working capital, with priority assigned to companies in less-developed municipalities, women-led businesses, young entrepreneurs and start-ups. The programme expands Montenegro’s development-finance base at a time when commercial bank lending remains concentrated in property, trade, tourism and short-term liquidity needs.
Focus on productive investment and regional development
The impact of the new financing programme will depend on whether the Development Bank of Montenegro channels funds towards productive fixed investment rather than primarily refinancing working-capital pressures. Regional distribution of financing will also be monitored, as northern Montenegro remains underrepresented in terms of company revenues and private investment compared with other parts of the country.
New measures for food safety, chemicals and geological data
Several additional regulatory measures adopted on 9 July addressed food safety, chemical management and the transformation of the Geological Survey into a public institution.
The restructuring of the Geological Survey is expected to improve the quality and accessibility of geological information used in infrastructure, quarrying, mining, water and energy projects. Investors will continue to require project-level geological data that comply with lender requirements and environmental due-diligence standards.
