Podgorica, (MINA-BUSINESS) – Minister of Finance Novica Vukovic has signed two strategically very important agreements with the World Bank in Washington, D. C., worth a total of €58 million, further strengthening Montenegro’s course toward sustainable development, institutional strengthening, and accelerated European integration.

The Ministry stated in a press release that these projects are a concrete result of the active and responsible policy of the Ministry of Finance, which secures financial and technical support for the country’s key development priorities through international partnerships. 

The largest portion of the funds, €40 million, will be directed toward the comprehensive modernization of the waste management system, including the construction of a Regional Center in Niksic, as well as the development of modern systems for sorting, recycling, and composting. This project is directly important for fulfilling obligations under negotiating Chapter 27 – Environment and Climate Change.

The “Forests of Montenegro for Shared Prosperity” project, worth €18 million, brings a strong development boost to the forestry sector through sustainable resource management, strengthening the timber industry, and improving economic opportunities in rural areas. The project is fully aligned with European standards and contributes to meeting obligations under the European Union accession program. 

These arrangements confirm the Government’s clear commitment to accelerate reforms, with strong support from the Ministry of Finance, leading to the closing of negotiation chapters and full membership in the European Union.