Podgorica, (MINA-BUSINESS) – According to the Ministry of Finance, Montenegro continues to demonstrate strong reliability and efficiency in absorbing financial support from European Union (EU) funds. 

“Data from the IPA II financial perspective (2014–2020) reflect a high level of institutional maturity and a clear commitment from national institutions, led by the Ministry of Finance, in managing EU support, in close and ongoing cooperation with European partners,” the Ministry stated in a press release.

In the context of Montenegro’s EU accession negotiations, effective management of pre-accession funds is a key indicator of the country’s readiness and capacity to meet and implement the membership-related obligations.

“Based on precise and comprehensive data, Montenegro has so far absorbed 90 percent of the available EU funds under the IPA II perspective, with projections indicating this figure will rise to 93 percent by the end of the implementation cycle,” the press release reads.

In terms of contracted funds, Montenegro has secured €146 million of the €155 million available under IPA II financial perspective – equivalent to 94 percent - with expectations that this will increase to 96 percent by the end of the programming period.