Since 2006, the European Bank for Reconstruction and Development (EBRD) has steadfastly supported Montenegro’s economic growth, investing a whopping 805 million euros, including an impressive 80 million euros last year alone!

Montenegro, though small, shines brightly on the EBRD’s investment map, highlighting its potential as a priority destination for fostering economic prosperity. This year, the EBRD is doubling down on its commitment to Montenegro’s development, focusing on bolstering energy infrastructure, promoting renewable energy sources, enhancing connectivity, and boosting the energy efficiency of public buildings.

According to Remon Zakaria, head of the EBRD office in Montenegro, the outlook 2024 is positively radiant, with forecasted economic growth reaching an impressive 3.7 percent! To sustain this momentum, Montenegro must continue nurturing its traditional sectors, like tourism and agribusiness, while embracing diversification by investing in renewable energy sources.

With abundant solar and wind potential, Montenegro is poised to become a clean energy powerhouse, potentially exporting energy to neighboring countries and the EU via a submarine cable to Italy. EBRD demonstrated its commitment to encouraging the development of renewable energy sources in Montenegro through one of the largest investments in the country so far—with EPCG, they financed a new 55-megawatt wind farm near the village of Gvozd.

As a company, we celebrate this important partnership between the EBRD and Montenegro, as together, we pave the way for a brighter, greener, and more prosperous future!

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