EIB Global opens representation office in Montenegro

• The EIB's development arm has established a new office in Podgorica, Montenegro.
• It will be led by Davor Kunc and is l ocated within the EU Delegation.
• The representation strengthens the Bank's presence in the Western Balkans.

The European Investment Bank (EIB Global) has opened an office in Montenegro to enhance financial and technical support for public and private investments in the country. The new office is located in the capital Podgorica within the in the EU Delegation premises and will be led by Davor Kunc, who joined the EIB Group in 2018.

The representation will serve to reinforce the Bank's strong relationship with Montenegro, where the Bank has invested more than €1 billion to date in public and private sector projects, including to strengthen the country's green transition, connectivity and social infrastructure.

The new EIB office was formally opened by EIB Vice-President Robert de Groot, Minister of Finance Novica Vuković and Head of the European Union Delegation to Montenegro Johann Sattler.

"The opening of our office in Podgorica marks a new chapter in our partnership with Montenegro," said EIB Vice-President Robert de Groot. "With a stronger presence on the ground, we are better positioned to respond more swiftly to local priorities and support transformative investments that benefit people and the economy and contribute to Montenegro's path towards accession."

"The establishment of the EIB's permanent presence in Montenegro represents a strong incentive for the implementation of strategic projects in the areas of infrastructure, education and the green transition, as well as a signal of confidence in the stability and potential of Montenegro's economy," said Montenegrin Minister of Finance Novica Vuković. "As a government, we stand ready to work together with such a credible partner as the EIB to build a more modern, prosperous and competitive Montenegro - a country of new opportunities for all its citizens."

Since 2024, Montenegro has received EIB Global loans totalling €60 million as well as up to €71 million in EU grants. These funds will help improve water supply, railways and education as Montenegro seeks to join the European Union, possibly as soon as 2028.

"This office is a symbol of our strengthened dedication to Montenegro and its EU aspirations," said Head of the EU Delegation to Montenegro Johann Sattler. "It also represents a very practical improvement - a hands-on approach from our most important financial institution. So today, we are sending a clear message: the EU family acts as one. Together, as Team Europe, we stand ready to support Montenegro's reform path and its journey towards EU membership."

As EIB Global's representative to Montenegro, Davor Kunc will be in a position to strengthen the Bank's cooperation with local partners, further project development and advance the country's EU integration. His previous post was in Luxembourg at the European Investment Fund (EIF), part of the EIB Group, where he served as a principal officer for corporate relations and managed institutional ties.

At the event, he emphasised his eagerness to work closely with the Montenegrin authorities and the EU Delegation to finance projects that bring Montenegro closer to the European Union and deliver lasting benefits to its people.

"It is a great honour to represent EIB Global in Montenegro at this key moment in the country's EU journey," said Davor Kunc. "What inspires me is the tangible impact of our work: the moment when a shovel breaks ground for a refurbished railway, when clean water flows from a newly built wastewater treatment plant or when the school bell rings in a renovated classroom. I am committed to building strong partnerships and supporting sustainable growth, innovation and social progress."

During his visit to Montenegro, EIB Vice-President Robert de Groot will unveil a commemorative plaque honouring the EU and its bank's contributions to Montenegro's education sector, in the presence of representatives from the EU Delegation and the country's Ministry of Education, Science and Innovation.

Background information

About the EIB and EIB Global

The EIB is the long-term financing institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). EIB Global is the EIB Group's specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. It aims to support €100 billion of investment by the end of 2027 - around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to local people, companies and institutions through its offices around the world.

About the EIB in Montenegro

The EU bank has been an active partner of Montenegro, providing almost €1.1 billion in loans to the country, mostly in support of SMEs, education and transport infrastructure. For more information on EIB projects in Montenegro, visit https://www.eib.org/projects/regions/enlargement/the-western-balkans/montenegro/index.htm.For detailed information on the EIB's activities in the Western Balkans, visit www.eib.org/publications/the-eib-in-the-western-balkans.