IFC Director: We are ready to provide full support for implementation of Montenegro–UAE agreements

The International Finance Corporation (IFC), part of the World Bank Group, is ready to finance and provide technical support for projects to be implemented jointly by Montenegro and the United Arab Emirates under the framework of their bilateral agreements, said Makhtar Diop, IFC Managing Director, during his meeting with Prime Minister Milojko Spajić, who is paying a working visit to Washington, D.C.

Prime Minister Spajić emphasized that the recently signed agreements are a clear indication of the strengthening relationship between Montenegro and the UAE. He expressed confidence that these developments would also create opportunities for cooperation in the energy sector-particularly in the field of renewable energy-highlighting that all such initiatives are ultimately in the best interest of Montenegrin citizens.

The UAE is currently investing billions of euros in renewable energy and is effectively a global leader in this area. We are prepared to provide technical support for drafting a bilateral energy agreement, and to offer financial backing for any joint projects you pursue in this domain, Diop stated.

In that regard, the IFC Director emphasized the importance of the UAE as a key global player and informed the Prime Minister of a recent strategic decision to locate the IFC Vice President for Central Asia's office in Dubai.

Prime Minister Spajić also briefed the IFC leadership on Montenegro's planned infrastructure projects, particularly the continued development of the country's highway network.

In response, Diop expressed readiness for cooperation based on the public-private partnership model.

We see strong potential in Montenegro and in the direction your government is taking. We want to be part of these positive developments. You can count on our support, he assured the Prime Minister.

During the meeting, both parties expressed hope that the long-stalled airport tendering process-delayed for over five years-would soon be finalized.

After nearly four successive governments failed to make progress on this issue, we expect a decision on the future of our airports very soon. It is a key bottleneck for both tourism and economic development, and it must be resolved without delay, Prime Minister Spajić underlined.

The meeting was also attended by Montenegro's Minister of Finance, Novica Vuković, and the Montenegrin Ambassador to the United States, Jovan Mirković.