Montenegro to receive around €413 million from the Growth Plan

According to the Government, around €413 million has been earmarked for Montenegro in the European Commission’s Growth Plan for the Western Balkans to boost the economic growth rate and accelerate the EU accession process.

In addition to the existing support for the Western Balkan countries, the EC has proposed an additional investment package of €6 billion, providing €2 billion in grants and €4 billion in favourable loans.

Of this amount, around €413 million has been earmarked for Montenegro.

A government delegation, comprised of Deputy Prime Minister and Minister of Economic Development Nik Gjeloshaj, Minister of European Affairs Maida Gorcevic, and Minister of Energy and Mining Sasa Mujovic visited Brussels today to discuss the Growth Plan and Agenda for Priority Reforms with EC representatives.

“The Government is strongly committed to working with the EC on planning and monitoring the implementation of reforms through the Growth Plan instrument,” stated the delegation members, adding that the reforms aimed to contribute to the economic and overall development of society and expedite the EU accession process.

They added that the Government would prepare a Reform Agenda, based on existing recommendations, including previous economic and reform programmes, enlargement packages, and ongoing political dialogues.

The EC representatives stated that Montenegro was encouraged through the EU’s financial support to rapidly increase the economic growth rate and expedite the EU accession process by combining reforms and investments.