www.eco-finance.org: Information for providers, users and analysts of environmental finance

Eco-finance in Montenegro

Domestic public finance

A new "Environmental Investments Revolving Fund" or "Eco-Revolving Fund" is expected to be established during 2008. View institutional profile. For latest developments on this Fund also check the website of the Ministry of Tourism and Environmental Protection.

Domestic public spending in the forestry sector in Montenegro is the subject of the institutional profile of the Ministry of Agriculture, Forestry and Water Management (MAFWM), Forestry Sector. View institutional profile. View MAFWM website.

State budget allocations and spending for the environment and water sectors in Montenegro is the subject of the institutional profile of the Ministry of Finance (MOF). View institutional profile. View MOF website.

A case study on the financing of (water) infrastructure on local level in Montenegro is available with the institutional profile of the Agency for Construction and Investment of Bijelo Polje. View institutional profile.

Do you know of additional mechanisms or institutions providing finance for environmental investments and thus should be mentioned here? Please let us know.

International, foreign sources

Below please find links to foreign and international institutions providing finance for environmental and/or water infrastructure projects. Bilateral mechanisms and institutions are listed first (in alphabetical order), followed by multilateral institutions.

Environment constitutes an important area of the current work of the Austrian Development Cooperation and Cooperation with Eastern Europe, ADC (implemented by the Austrian Development Agency, ADA). For details see the dedicated ADA website.

In South East European countries, the Canadian International Development Agency (CIDA) currently supports multilateral projects in the areas climate change and environment & security. Details on the CIDA website.

Czech Development Agency: view website.

The Danish Carbon Program offers carbon finance. For details visit the dedicated website. So far, Danish Carbon has no projects yet in Montenegro.

The Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) public-private partnership program (PPP): view website.

The Dutch Agency for International Business and Cooperation (EVD) operates a "Program for Technical Cooperation with Emerging Markets (PSOM)" that supports Dutch companies investing in emerging markets (environmental criteria are applied in procedures): view website.

The Finnish Carbon Procurement Programme (Finnder) offers carbon finance. For details visit the Finnder website. So far, Finnder has no projects yet in Montenegro.

Fonds Français pour l'Environnement Mondial: view website.

Japan Bank for International Cooperation (JBIC): "Economic Cooperation (ODA) loans" are available to the public sector or to financial intermediaries in developing and transition countries, to assist in the development of key social and economic infrastructures, including for example effective use of water and energies. View website.

KfW Entwicklungsbank provides loans and other finance for infrastructure / environmental projects: view website

Slovak Aid: view website.

Spanish Agency for International Development Cooperation: view website.

Swedish International Development Cooperation Agency (SIDA): view website

United States Agency for International Development (USAID) in Montenegro: view website.

European Bank for Reconstruction and Development (EBRD): EBRD energy efficiency and climate change finance; EBRD/EIB Multilateral Carbon Credit Fund (MCCF); EBRD municipal and environmental infrastructure finance; EBRD renewable energy finance; EBRD TAM/BAS programme (TAM/BAS stands for "Turn Around Management and Business Advisory Services"; program includes environmental components).

European Investment Bank (EIB): overview on loans offered by the EIB; examples of finance contracts signed; current project pipeline ("projects to be financed"). See also: EBRD/EIB Multilateral Carbon Credit Fund (MCCF).

European Union (EU) / European Commission (EC) support: see EC Enlargement - Montenegro and Eco-Innovation in Europe websites.

The ENVSEC Initiative addresses environmental problems, which threaten security, societal stability and peace, human health and/or sustainable livelihoods, within and across national borders in conflict prone regions. Details on the ENVSEC website.

Global Environment Facility (GEF): view website. For country relevant info, see GEF Country Profile portal.

International Finance Corporation (IFC): view dedicated IFC country webpage. The following programs and facilities are available: IFC Environmental Business Finance Program (focused on financing renewable energy, energy efficiency, biodiversity and sustainable land management projects of SMEs); IFC Carbon Finance; IFC Cleaner Technologies Program; IFC Sustainable Energy program; IFC infrastructure financing (including water, wastewater, solid waste management); DevCo Facility.

Nordic Investment Bank (NIB) lending: view website.

The Renewable Energy and Energy Efficiency Partnership (REEEP) supports the development of innovative financing methods and policy to enable investment projects in the renewable energies and energy efficiency sectors (REEEP is not a funding mechanism, however): view website.

United Nationes Development Programme (UNDP) in Montenegro: view website.

Information on the World Bank's environment and water sector portfolio can be found at the dedicated World Bank country website. In addition: view the World Bank Carbon Finance Unit website and the World Bank Public Private Infrastructure Advisory Facility (PPIAF) website.

Do you know of additional mechanisms or institutions providing finance for environmental investments and thus should be mentioned here? Please let us know.

Domestic commercial finance

A list of Montenegrin banks is available at the website of the Central Bank of Montenegro (see "banking system"/"Bankarski sistem" link).

Last update of this page: 03 June, 2010

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Country background information

General info

• Official name: Republic of Montenegro
• Largest cities: Podgorica (capital, 210'000 inhabitants), Nikšić (100'000)
• Neighboring countries: Albania, Croatia, Bosnia and Herzegovina, Serbia
• Key links: National government; Ministry of Tourism and Environmental Protection; Ministry of Agriculture, Forestry and Water Management; Ministry for Economic Development; Central Bank; World Bank office; EBRD; EC Delegation; EU Accession; Wikipedia; Encyclopedia Britannica

Environment: background info

• State of the environment reports and governmental environmental policies: see website of the Ministry of Tourism and Environmental Protection; see also: UNECE Envtl. Performance Review 2007; EEA state of environment reporting; EEA (2007): "Europe's Environment: the Fourth Assessment"; EEA/UNEP (2007): Sustainable Consumption and Production…; UNDP (2007): Environmental Policy in SEE; IEA Montenegro website
• Reports related to eco-finance in Montenegro: PPC/REC/OECD (2007): Mobilizing Finance for Environmental Priorities…; REC (2007): Environmental Financing Trends in SEE: 2001–2005; REC (2007): Municipal Environmental Investments in SEE 2001–2005; REC PEIP website
• For additional reports related to eco-finance, please visit our library & reference pages

Currency and exchange rates

Currency: 1 Euro (EUR) = 100 Cents (current and past exchange rates)

EUR/USD, end-year exchange rates:

USD/EUR, end-year exchange rates:

  Source: oanda.com