World Bank Approves New 2025-2029 CPF for Montenegro, Focuses on Sustainable Growth and EU Integration

The CPF focuses on unlocking Montenegro’s economic potential through enhanced fiscal management, increased competitiveness, and better integration with European markets.

The World Bank Group's Board of Executive Directors has approved a new Country Partnership Framework (CPF) for Montenegro for the 2025-2029 period. This strategy aims to promote sustainable economic growth, strengthen climate resilience, and support Montenegro's pursuit of European Union accession.

The CPF focuses on unlocking Montenegro’s economic potential through enhanced fiscal management, increased competitiveness, and better integration with European markets. A significant portion of the strategy centers on environmental sustainability, including initiatives in waste management, forestry, water systems, renewable energy, and energy efficiency. These efforts will help position Montenegro as a leader in green transition in the region.

Additionally, the framework emphasizes sustainable natural resource management, climate adaptation, and the protection of natural areas, aiming to improve the quality of life, public health, and Montenegro’s appeal as a tourism destination.

“Our strategy embodies a shared vision for a prosperous and environmentally sustainable Montenegro," said Christopher Sheldon, World Bank Country Manager for Bosnia and Herzegovina and Montenegro. "By combining economic support with green development, we aim to guide Montenegro toward a resilient future and help it achieve its EU integration goals."

The International Finance Corporation (IFC), a member of the World Bank Group, will drive private sector investments, while the Multilateral Investment Guarantee Agency (MIGA) will offer guarantees to bolster the impact of the $350 million in initial lending committed under the CPF.

"Our strategy for Montenegro reflects IFC’s commitment to fostering private sector-led growth and supporting the country’s green transition," said Nicolas Marquier, IFC Regional Manager for the Western Balkans. Key focus areas include improving connectivity, sustainable tourism, renewable energy, and access to finance.

The World Bank’s current portfolio in Montenegro includes three projects totaling $63.18 million, with an additional $31.30 million invested in two regional initiatives.