Montenegro, The Federal Bank of Germany will continue to support the CBCG, News
The Governor of the Central Bank of Montenegro, Radoje Žugić, met today with the representatives of the Federal Bank of Germany – the director of the Center for International Dialogue, Martin Dinkelborg, and the coordinator for IPA projects, Peter Špik.
The topic of the meeting was the continuation of the cooperation between the Central Bank of Montenegro and the Federal Bank of Germany, especially in the area of the implementation of bilateral programs of the two institutions and the implementation of the joint Program for Strengthening the Capacity of the Central Banks of the Western Balkans, with the aim of their integration into the European System of Central Banks, which is financed from EU funds.
Žugić thanked for the cooperation and support that the Federal Bank of Germany has been providing to the Central Bank of Montenegro for two full decades, stating that the support of this institution for the CBCG was particularly significant during the pandemic caused by the corona virus, as well as in projects aimed at strengthening the capacities of the CBCG and harmonization of Montenegrin legislation with EU regulations.
– Cooperation with the Federal Bank of Germany, primarily in the implementation of international and bilateral projects, is very important for the Central Bank of Montenegro. The continuous support provided by the Deutsche Bundesbank to the CBCG is particularly significant when it comes to projects that the Central Bank implements on the way to EU membership, such as the implementation of the twinning project “Support to the Regulation of Financial Services” led by the Bank of Germany, within which the Montenegrin Supervisory and Regulatory framework, primarily through the adoption of the Law on Credit Institutions and a large number of accompanying decisions, harmonized with the EU legal acquis – Žugić pointed out.
The Director of the Center for International Dialogue of the Federal Bank of Germany stated that international cooperation is a very important segment of the Federal Bank of Germany’s business. Dinkelborg also said that this institution will continue to support the CBCG in the process of European integration, especially through projects supported and financed by the EU, local media writes.
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