The European Commission has officially approved the reform agenda for Montenegro, following a favorable assessment from EU member states.

Additionally, the Commission has sanctioned the reform agendas for Albania, Kosovo, Northern Macedonia, and Serbia, paving the way for financial withdrawals from the Reform and Growth Instrument as part of the Growth Plan for the Western Balkans. This growth plan features a total funding package of six billion euros for the period of 2024-2027, which includes a mix of grants and favorable loans. Montenegro is set to receive 383.5 million euros, with 110 million euros being non-repayable and 273.5 million euros provided as low-interest loans. The European Commission intends to allocate seven percent of the total growth funds as a form of pre-financing, followed by the remainder distributed over six semi-annual tranches of support, contingent upon the progress in implementing the planned reforms.

Montenegro is expected to obtain its first tranche of approximately 29 million euros by the end of this year.

“I am truly impressed by the efforts of our partners from the Western Balkans regarding their reform agendas. This demonstrates their commitment to the success of the growth plan. It serves as our roadmap to bring the economies of the Western Balkans closer together and to grant their businesses and resources access to compete in our unified market. Everyone stands to benefit, marking a significant move towards the European Union,” remarked Ursula von der Leyen, President of the European Commission.

On October 12, EU Member States approved the reform agendas for the five Western Balkan countries, allowing them eligibility to receive financial aid from the European Growth Plan for the region. Bosnia and Herzegovina, however, did not receive approval as it did not submit a complete reform agenda, which was therefore not reviewed at the EU level.

The Government of Montenegro adopted the 2024-2027 reform agenda at the end of September. This document outlines 32 indicative priority reform measures across four key sectors: business environment and private sector development, digital and energy/green transition, human capital development, and rule of law and fundamental rights, along with 14 subsectors.

Prime Minister Milojko Spajić announced that with the official adoption of the Reform Agenda, Montenegro is assured of 383.5 million euros in financial support, which will be essential for spurring social transformation and infrastructure development over the next three years.

“With these reforms, I am committed to preparing Montenegro for EU membership by 2028,” Spajić stated.