The Montenegrin Government has successfully met the final requirement for the operational commencement of utilizing available European Union (EU) funds from the growth plan designated for the Western Balkans, which includes the initiation of planned tranche payments.

According to the Ministry of European Affairs, all procedural steps have been completed regarding the Proposals of the Accession Agreement between the EU and Montenegro, facilitating the implementation of support and growth. This was reported by eKapija.

Previously, in December of last year, the government endorsed an agreement, fulfilling all necessary procedural steps for its continued consideration in the Assembly.

The growth plan serves as a substantial financial tool aimed at aligning Montenegrin economic standards with the European average while necessitating comprehensive reforms to transform Montenegro’s economic and social landscape.

“We anticipate that the Assembly will review this proposal promptly, enabling the disbursement of pre-finance and the initial tranche from the growth plan for the Western Balkans. This agreement is crucial for Montenegro’s involvement in the legislative process within the Assembly and its subsequent enforcement. The governmental actions to date regarding the preparation and acceptance of the reform agenda are essential prerequisites for finalizing an additional Loan Agreement and the disbursement of the allocated funds,” the statement reads.

The ministry indicated that upon completing all aforementioned procedural steps, the European Commission (EC) will be positioned to initiate the first payment of funds into the national budget.

“It is therefore imperative to expedite this process; otherwise, Montenegro will forfeit its opportunity to utilize the projected funds for its projects and reform initiatives,” the Ministry concluded.