Montenegro and the Council of Europe Development Bank (CEB) will continue working together on projects that bring long-term and positive changes in Montenegrin society, announced the Minister of Finance, Novica Vuković, at a meeting held in Budva.
Opening the CEB Annual Joint Meeting at the Splendid Hotel, Vuković thanked CEB for its continued support and strong partnership.
"We are witnessing rapid progress in meeting the requirements for membership in the European Union (EU), with intensive reform processes that include investments in key sectors - with education at the very center. Montenegro has recognized that education is the most valuable resource of modern society - an investment that brings multiple positive effects, both for economic growth and for social cohesion and sustainable development," said Vuković.
The CEB's Annual Joint Meeting brought together the Board of Directors, the Administrative Council and the bank's senior management, and Montenegro hosted this event for the first time, with the support of the Ministries of Finance and Foreign Affairs.
The joint meeting, as announced by the Ministry of Finance, was an opportunity for the country to reaffirm its commitment to social development and strengthening its partnership with the CEB.
Since joining the CEB in 2007, Montenegro has implemented 11 social projects with a total approved financing of 213 million euros, in the sectors of social housing, education and employment support.
CEB Governor, Karlo Monticelli, said that Montenegro is a candidate country for EU membership, a nation moving forward, embracing the ideals we all strive for - an inclusive, innovative and prosperous society.
“CEB is proud to be able to support this process by funding social development projects in key areas, including education,” said Monticelli.
The closed session of this year's Joint Meeting was dedicated to the CEB's approach to supporting the education sector in member countries, with a discussion on the importance of securing investment in this key area.
Underinvestment in education across Europe threatens social cohesion, limiting social mobility, deepening inequalities and reducing opportunities for economic growth.
The guest of the session was the Minister of Education, Science and Innovation, Anđela Jakšić-Stojanović.
In her address, she said that the Ministry of Education, Science and Innovation continues to invest in educational infrastructure, confirming its commitment to improving the conditions for learning and development of children throughout Montenegro.
"The growth plan includes 48 projects worth over 240 million euros, relying on the expertise of our team and strong partnerships with international institutions, especially with CEB. This 12-year cooperation has already brought benefits to thousands of children through the improvement of preschool education," said Jakšić-Stojanović.
According to her, with further investments and new projects, even more educational institutions across Montenegro will provide children with a safe, modern and stimulating learning environment.
"These partnerships remain key to the Ministry's vision - an education system that meets the needs of modern society and provides children with the best foundation for a successful future," added Jakšić-Stojanović.
Over the years, CEB has been a key partner in strengthening the education sector in Montenegro, with 20 million euros in loan support.
Current activities are focused on improving access to quality preschool institutions through the construction of four new kindergartens in Bar, Berane, Podgorica and Ulcinj.
This initiative builds on a previous project, implemented between 2015 and 2021, during which five new kindergartens were built and 28 preschools were renovated, further improving the country's early education infrastructure.
"Recognizing the importance of providing funding for education, the CEB will continue to propose innovative financial solutions and implementation mechanisms, so that education remains a priority on the social agenda of all its member countries," the statement said.
The CEB Joint Meeting will continue tomorrow with closed sessions, during which the Bank's Administrative Council will consider approving new loans, including key projects in the areas of health and financial inclusion in Montenegro.
Bonus video:
