The Government of Montenegro, through the Ministry of Finance, has moved forward with plans to introduce a state-backed export insurance scheme aimed at strengthening the ability of Montenegrin companies to compete in foreign markets. Under the proposed framework, the Development Bank of Montenegro will operate as an export-credit agency to provide insurance against non-market risks for Montenegrin exporters of goods and services. This measure is intended to fill a gap in the private market, where commercial insurers often do not cover such risks, and to make cross-border trade more accessible for domestic firms.
According to the Ministry of Finance, the export insurance mechanism will cover non-market risks, including commercial and political risks outside the coverage typically offered by private insurers, thereby reducing uncertainty for exporters when selling abroad. The draft regulation was reviewed by the Agency for Protection of Competition, which concluded that the measure, as structured, does not constitute state aid because it is limited to risks not covered by existing European Union export-credit insurance rules. The agency did, however, caution that any future coverage of temporary non-market risks could be interpreted as state aid and would need to comply with applicable control laws.
The regulatory framework aligns with European Union directives governing export-credit insurance and financing, and it is designed to operate in conformity with international standards. By having the Development Bank underwrite a portion of export risks on behalf of the state, Montenegro aims to provide exporters with greater security when entering new markets, particularly where commercial insurance is unavailable or prohibitively expensive.
This initiative forms part of broader efforts to boost export competitiveness, attract investment, and support the internationalisation of Montenegrin businesses, helping to address structural challenges in the country’s trade performance and to diversify economic activity into export-oriented sectors.
