WORLD NEWS FOR MONTENEGRO DIASPORA
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Author: M.J.
The European Bank for Reconstruction and Development (EBRD) expects the economy of Montenegro to grow 3.7 percent this year, has shown its report on transition 2023-2024, which is presented today in Podgorica.
The leading EBRD regional economist for the Western Balkans, Peter Tabak, said that the economic growth of Montenegro has supported a strong tourist season last year.
The EBRD expects a growth of 3.7 percent this year. Long-term economic convergence can accelerate by focusing on better governance, increased trade openness and further gemening of the economy - said the board on the presentation of the report under the name transition.
The EBRD, as the Nein representatives stated, invested 80 million euros projects in Montenegro and mobilized an additional 25 million to support public and private investments, where green funding seemed almost 80 percent.
The EBRD also provided a loan for financing the new wind farm 55 megawatts (MW) near the village of Gvozd.
From the bank, they explained that it was the largest loan in Montenegro so far and aims to support the country of decarbonization and energy transition of the country.
In the private sector, the EBRD signed a loan agreement with Volia, the largest Montenegrin retail chain of food products, for the purchase and installation of solar panels for power supplies, as well as to provide electric vehicle charging stations.
They also reminded that the EBRD has so far invested over 800 million euros in Montenegro.
The EBRD Chief in Montenegro Remon Zakaria, in the introductory address, spoke about the action of the Bank in Montenegro, last year's results and prospects for the future.
