Voli Trade and the European Bank for Reconstruction and Development (EBRD) have signed a capital increase agreement, under which the EBRD will invest 25 million euros in Voli's equity, further strengthening the almost two-decade partnership between the two institutions and opening a new chapter in the development of a modern, competitive and sustainable trade sector in Montenegro.
This investment will enable the implementation of one of the company's most significant development projects - the construction of a third, modern logistics and distribution center in Podgorica, a discount store and a HORECA center, which represent a strategic step forward in the further modernization of Voli's business operations.
"The partnership with the EBRD has a much broader meaning for us than financial support. It represents confirmation that Voli operates in accordance with the highest European standards and that it is recognized as a reliable and long-term partner of international financial institutions. Today's contract is also a strong signal to the Montenegrin economy - that domestic companies, when they operate transparently, responsibly and strategically, can be an equal part of European trends," said Dragan Bokan, Chairman of the Board of Voli.
Almost two decades of partnership
The cooperation between Voli and the EBRD began in 2009, with the first loan arrangement aimed at capital investments and the expansion of the retail network. It continued through the second loan arrangement and the acquisition of the Novito chain, and in 2015, the EBRD became a shareholder of Voli, making Voli the only company in Montenegro to have gone from loan financing to recapitalization by an institutional investor.
Over the years, the partnership with the EBRD has contributed to improving corporate governance, strengthening reporting systems, optimizing operational processes and adopting best international practices, with strong support from EBRD representatives on the Board of Directors.
New logistics center – a strategic investment for the future
The new logistics and distribution center will cover more than 25.000 m², with a capacity of 25.000 pallet spaces, of which 10.000 will be in the minus storage regime at -22°C and below. The facility has been designed in accordance with the highest energy efficiency standards, with the aim of achieving EPC B energy class, which is a level above the current national requirements.
The construction of the center will enable further improvement of efficiency, reliability and speed of supply, as well as an even higher level of service for customers throughout Montenegro.
Digital transformation and cybersecurity
The investment also includes extensive technical support from the EBRD in the area of digital transformation, which includes a detailed digital business analysis, defining a clear development roadmap, as well as a comprehensive cybersecurity assessment.
"Digitalization is not just an investment in technology, but in the long-term stability, resilience and competitiveness of the company. Through this cooperation, Voli further strengthens its capacities and contributes to the modernization of business practices in Montenegro," emphasized the President of the Company, Dragan Bokan.
Voli and the EBRD jointly remain strongly committed to sustainable development. The new logistics center builds on the company's previous projects, including investments in solar panels, energy efficiency and electric vehicle infrastructure.
Contribution to the economy and the European path of Montenegro
With this investment, Voli further strengthens its market position, contributes to the stability of supply, opens new development perspectives and actively participates in the process of bringing the Montenegrin economy closer to European Union standards.
"We are convinced that the combination of a domestic vision and European standards represents the best recipe for long-term success - not only for Voli, but also for the Montenegrin economy as a whole," Dragan Bokan concluded.
Remon Zakaria, Head of the EBRD Office in Montenegro, stated on this occasion:
“Today marks a new chapter in our partnership with Voli. The EBRD is proud to invest up to €25 million to support the construction of a modern logistics and distribution center in Podgorica. This project is a testament to our commitment to strengthening Montenegro’s private sector and supporting leading local companies like Voli.
The center will feature advanced energy efficiency measures, significantly exceeding national standards. Our investment includes dedicated support for digitalization and cybersecurity, enabling Voli to implement modern warehouse and supplier management systems, and pilot advanced cyber resilience platforms. We are particularly proud that this project will launch a targeted internship program for women, promoting equal opportunities.
By improving digital and green standards and supporting equal opportunities, we are not only strengthening Voli's competitiveness, but also contributing to a more sustainable and inclusive future."
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