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European Investment Bank to Establish Office in Podgorica

The European Investment Bank (EIB) has announced its decision to open a new office in Podgorica, marking a significant step in strengthening its partnership with Montenegro and supporting the country's development agenda

The European Investment Bank (EIB) has announced plans to open a new office in Podgorica, signalling a strong vote of confidence in Montenegro’s institutions and a commitment to the nation’s development. The announcement came during a visit to Montenegro by an EIB delegation led by Vice-President Kyriacos Kakouris, coinciding with the signing of a significant €11 million grant agreement from the European Union aimed at bolstering the education sector.

Prime Minister Milojko Spajić expressed his pleasure at the grant agreement, signed with the Ministry of Education, Science, and Innovation, highlighting the substantial boost it will provide for the modernisation and equipping of 13 educational institutions across the country. “Investing in education is an investment in our future, and we are delighted to reaffirm the EU as our partner in this journey,” Spajić stated.

In discussions with the EIB delegation, Spajić outlined Montenegro’s development plan up to 2030, focusing on enhancing transport infrastructure projects, notably through the expansion of the motorway network and the modernisation of the railway infrastructure. He emphasised that balanced regional development hinges on stronger transport connections and noted that plans to continue motorway construction have already sparked interest from foreign investors in Northern Montenegro.

The EIB representatives expressed their intention to diversify cooperation with Montenegro, indicating that beyond transport and support for small and medium-sized enterprises, there are opportunities for stronger collaboration in other sectors, including education. They praised the strategic vision of the government and its prudent approach to financing significant projects, which safeguards the country from fiscal risks. “We are closely monitoring your activities and are keen on enhancing our cooperation across all fronts. The decision to open an office in Podgorica is a testament to our relationship with Montenegro,” the EIB representatives conveyed.

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