NewsMontenegro allocated EUR 383 million for reforms under EU growth instrument

Montenegro allocated EUR 383 million for reforms under EU growth instrument

Supported byOwner's Engineer banner

At today’s session, the Government adopted the Information on the preparation process for the Reform Agenda under the EU Instrument for Reforms and Growth, along with the Proposal for key reform measures and steps, which includes an allocation of approximately EUR 383 million for Montenegro.

This step precedes the finalization of the Reform Agenda document, which is scheduled for adoption in July.

Supported by

Minister of European Affairs, Maida Gočević, explained during the presentation of the Information that, according to the European Commission‘s methodology, Montenegro has been allocated around EUR 383 million. Of this amount, approximately EUR 255 million will be provided as low-interest loans, while EUR 128 million will come in the form of EU grants.

As stated by the Ministry of European Affairs, Gočević added that the total value of the EU Instrument for Reforms and Growth for the entire Western Balkans is EUR 6 billion for the period extending to 2027.

Supported byElevatePR Digital

“Out of the total support amount, it is planned that half, or about EUR 190 million, will be allocated as direct budget support. The other half will be earmarked for infrastructure project financing and implemented through the Western Balkans Investment Framework (WBIF),” Gočević clarified.

She also mentioned that, according to European Commission forecasts, seven percent of the total funds will be disbursed at the beginning of the Growth Plan implementation, with the remaining amount to be released in six semi-annual tranches, contingent upon the progress of the planned reforms.

Gočević noted that, following consultations with the European Commission’s relevant departments, the Government has identified four critical policy areas for which further reform measures will be defined: business environment and private sector development, digital and energy/green transition, human capital development, and rule of law/fundamental rights.

A Working Group for the preparation of the Reform Agenda for the EU Instrument for Reforms and Growth was formed at the end of January this year, coordinated by the Ministry of European Affairs.

“The final Proposal for the basic reform measures and steps for the Reform Agenda includes 32 indicative priority reform measures within four policy areas, 14 policy sub-sectors, and steps identified as essential for the implementation of the reforms. These steps also include success indicators or metrics, which will be used to monitor progress and assess the EU’s conditions for fund allocation,” said Gočević.

Regarding specific reform measures, Gočević explained that this significant funding package will facilitate activities aimed at improving investigation outcomes, confirmed indictments, and final convictions in cases of organized crime, as well as a comprehensive review of the electoral legal framework.

“Additionally, reforms will be implemented to enhance public procurement processes and strengthen the integrity of inspection services,” Gočević stated. She further mentioned that the reform steps will focus on developing digital infrastructure and that human capital development will be supported through reforms in the social and child protection systems and investments in education at all levels, including digital education.

After the Government adopted the Information on the preparation process for the Reform Agenda for the EU Instrument for Reforms and Growth, the working group will finalize the narrative part of the document in accordance with the template defined by the European Commission.

Following the alignment of the document with the European Commission’s relevant departments, it will be submitted to the Government for review and adoption.

Supported byspot_img

Related posts
Related

Supported byspot_img
Supported byspot_img
Supported byInvesting Montenegro logo
Supported byMonte Business logo
error: Content is protected !!