Workshop on partnership between IRF and AFD

The Investment and Development Fund of Montenegro (IRF) and the French Development Agency (AFD) today started activities in Montenegro in order to implement a project of EUR 50 million, in order to support the financing of small and medium enterprises and municipalities, in line with sustainable development goals .

The two-day workshop in Podgorica aims to educate and support at the operational level for the implementation of loans financed by the IDF to beneficiaries for climate investments and investments that will be intended for vulnerable groups from municipalities below the average development index.

The Executive Director of the IRF, Dr. Irena Radović, expressed her gratitude for the significant support of the AFD representatives within the French strategy for the Western Balkans, with the goal of strengthening the Montenegrin economy in the post-pandemic period. She stressed the importance of investing financial resources in building a sustainable society in Montenegro, which will be based on the efficient use of all natural resources and low-carbon development.

"Within the dual social and climate component, this program offers an integrated response to our clients' demands and the mobilization of tailored technical and financial support on the road to ecological transition, which is a guarantee of sustainable economic recovery. I am looking forward to the realization of this first partnership with AFD and the beginning of long-term cooperation between our two institutions, "said director Radović.

AFD project manager Maxime Lebovics expressed satisfaction with the launch of this program, which is the result of a strategic and operational dialogue established with the IRF. He pointed out that the IRF can count on the financial and technical support of the AFD in the process of transition to reducing carbon dioxide emissions and achieving green growth, with the expectation that the IRF will position itself as a leading financial institution in the field of environmental protection and sustainable development in Montenegro.

Through this program, which is the result of a joint initiative, AFD and IRF show full commitment to implementing European climate policy priorities and creating an institutional environment for the development of green and climate resilient infrastructures in Montenegro at national and local levels to encourage positive reform dynamics in all sectors. covered by the EU Green Deal and the Green Agenda for the Western Balkans.