Minister Žugić meets German Ambassador, KfW representatives: Successful cooperation to be continued

    Podgorica, Montenegro (3 June 2015) — Finance Minister of Montenegro Radoje Žugić met earlier today with German Ambassador Gudrun Stainaker and representatives of the German Development Bank (KfW), headed by the KfW Project Manager Bodo Schmuelling.

    Representatives of the KfW voiced interest in continuing cooperation with Montenegro through investments in renewable energy, and support for energy efficiency projects, development of municipal infrastructure, primarily on the coast of Montenegro.

    Guided by positive experience in working with the Montenegro government in implementing energy efficiency projects in public institutions, which, according to Mr Schmuelling, proved to be the most successful in the region, and which serve as a good example for the implementation of similar models in the neighbouring countries, representatives of KfW -a voiced willingness to expand the scope of joint action.

    Thanking for the qualitative partnership, Minister Žugić said that the government pledges fully support for the development projects of national interest and which do not pose a risk to the sustainability of the public finance. In that regard, he noted that said the KfW’s intentions in terms of the above mentioned projects include sustainability of transport and energy production and have a direct effect on the budget’s revenue through the savings achieved and that they correspond with the government’s policies and objectives.

    Source: Government of Montenegro