Ivanovic: €52m support to investments provided

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Within the talks with representatives of the International Finance Corporation IFC and the World Bank WB, the government has provided €52m support to investments up to 2020, said the Minister of Agriculture and Rural Development, Petar Ivanovic.

At the World Bank press conference in Washington, Ivanovic said that Montenegro was a successful example for other countries when it comes to the MIDAS and IPARD-like projects implementation, supported by the World Bank in order to develop agriculture and strengthen the competitiveness of Montenegrin producers.

He presented the way of implementation of the support projects to Montenegro’s agriculture.

“The meeting in Washington was a good opportunity to exchange experiences of member states when it comes to agriculture and rural development. Participation in the conference provided us with the opportunity to present results of two projects that we have implemented with the WB for almost six years. These are MIDAS and IPARD like projects. We have also been invited present our experience in the region and other countries in which the WB implements similar projects. The results achieved in agriculture are visible and a large number of countries have expressed interest in Montenegro’s experience”, he said.

In addition to participation in the conference on the exchange of knowledge and experiences, Ivanovic also talked to representatives of the International Finance Corporation and WB management.

“We discussed the continuation of cooperation. We have provided €52m to support investments for the period 2016–2020. The 50% support to farmers should not be given in advance, but after the investment is implemented. In order to complete their projects, agricultural producers need an additional €100m for investment. This was exactly the topic of discussion with IFC representatives – how to directly, trough IFC or indirectly through the banking sector provide money for the investments in order to avoid withdrawing IPARD funds because of lack of money. We talked to the representatives of the World Bank on the continuation of MIDAS project and agreed to move to the second phase of the project”, the minister said, noting that agriculture would occupy an important place in the WB’s five-year plan of activities in Montenegro.

Source: Cafe Del Montenegro