At the heart of Europe, nestled between stunning mountains and azure seas, lies the picturesque country of Montenegro. With its rich history and vibrant culture, this Balkan gem has been making strides in economic development with a little help from its friends at the European Investment Bank (EIB) Global.
Today was a momentous occasion as EIB Vice-President Robert de Groot and Montenegro’s Minister of Finance Novica Vukovic put pen to paper on a Host Country Agreement that solidifies EIB’s commitment to supporting Montenegro on its journey towards alignment with EU standards. This agreement also sets the stage for an EIB Representative to be stationed in Montenegro, fostering even closer collaboration in the future.
In a bid to bolster Montenegro’s education system, EIB Global signed off on a substantial €20.3 million package. This includes an €18 million loan earmarked for revamping schools across the nation and a €2.3 million grant directed towards providing crucial technical assistance through the United Nations Office for Project Services (UNOPS).
“The Host Country Agreement signed today formalizes the strong EIB support to Montenegro,”
remarked Vice-President Robert de Groot.
“By creating a cutting-edge learning environment, we will deliver immediate and lasting benefits for students and teachers across Montenegro.”
Finance Minister Novica Vuković echoed these sentiments by emphasizing that these investments are not just about renovating schools but are strategic moves aimed at investing in people and securing Montenegro’s future prosperity.
These initiatives mark another chapter in the longstanding partnership between Montenegro and international organizations like UNOPS, which have been pivotal in driving transformative shifts within Montenegro’s education system.
Montenegrin Education Minister Andjela Jakšić-Stojanović expressed gratitude for this significant investment:
“This represents the most comprehensive investment in education infrastructure in our country.”
UNOPS Deputy Executive Director for Delivery and Partnerships Kirstine Damkjaer added her thoughts saying,
“UNOPS is proud to play a role in driving transformative shifts.”
EU Ambassador Johan Sattler highlighted that this investment goes beyond classrooms; it is about paving the way for long-term economic growth and social cohesion in Montenegro.
The European Investment Bank has been an active contributor to Montenegro’s progress over recent years with substantial financing provided mainly for SMEs, education, and transport infrastructure projects.
Through initiatives like the Economic Resilience Initiative (ERI), backed by grants such as this one awarded today, impactful projects are being channeled towards sustainable development goals benefiting communities across Southern Neighbourhood countries like Montenegro.
As we reflect on these milestones achieved through collaborative efforts between global entities like EIB Global, UNOPS, and local governments such as that of Montenegro – it becomes evident that together we can build brighter futures where quality education paves the way for economic prosperity and societal well-being.
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