Press release from the 75th Cabinet session

The Montenegrin Cabinet held its 75th session, chaired by Prime Minister Milojko Spajić. The Cabinet adopted the Draft Law on the Credit Guarantee Fund of Montenegro. The adoption of this law establishes the legal framework for the establishment and commencement of operations of the Credit Guarantee Fund of Montenegro, an independent and autonomous institution. This Fund aims to improve access to finance, primarily for entrepreneurs, micro, small and medium-sized enterprises, women-owned businesses, and individuals engaged in registered economic activities, such as agricultural producers listed in the register of agricultural holdings maintained by the Ministry of Agriculture. These groups are recognized as facing the most significant obstacles in accessing financing from traditional credit institutions. The initial capital for establishing the Credit Guarantee Fund will be provided by the Government of Montenegro in the amount of €10.6 million. The primary goal of the Fund is to stimulate and accelerate economic development in Montenegro and increase local economic activity by supporting financing for business entities that currently face limited or difficult access to credit. Furthermore, this mechanism will activate a segment of the market with quality projects and programmes which, due to insufficient collateral, lack of credit history, or other reasons not directly related to the subject of financing, are unable to secure external funding. The European Bank for Reconstruction and Development (EBRD) played a crucial role in establishing the Credit Guarantee Fund by providing technical assistance to the Government. Additionally, the support of the EBRD enables the faster launch of the guarantee fund in Montenegro, while ensuring that it is efficient and effective, with strong governance and oversight. The Fund will serve as a long-term platform for cooperation with other international financial institutions, including the EBRD, potentially securing additional resources for economic recovery and development. These objectives align with the EBRD’s strategy and its ongoing engagement in Montenegro, with a focus on enhancing competitiveness and economic resilience. As an independent and non-profit institution, the Fund also increases its capacity to attract additional capital through grants in cooperation with international financial institutions and development partners.

The Cabinet adopted the draft laws on the ratification of the agreements between the Government of Montenegro and the Government of the United Arab Emirates on economic cooperation and on cooperation in the field of tourism and real estate development signed on 28 March 2025 in Abu Dhabi.

The Cabinet adopted the Plan for the preparation of the 2025 summer tourist season. The plan includes activities to be implemented by relevant institutions and municipalities directly and indirectly involved in the preparation of the season, both before and during the season, as well as ongoing efforts to improve overall readiness and tourism operations. These activities focus on improving transport and utility infrastructure, enhancing the hospitality and tourism offering through new hotels and accommodation facilities, and upgrading the quality of services across tourism and related sectors. Special emphasis is placed on promoting Montenegro in key source markets from which tourism demand is expected. To reduce seasonality and establish Montenegro as a year-round tourist destination, numerous events and festivals will be organized, particularly in the pre- and post-season periods. Other planned initiatives include efforts to reduce the informal economy, encourage employment of local labor and youth, improve Montenegro’s air accessibility through the introduction of new flight routes, and increase the number of low-cost carriers operating between European cities and Montenegro, as well as the number of scheduled flights.

The Cabinet adopted the Proposal for concluding an Annex to the long-term lease agreement for state-owned land (Contract No. Uzz 105/2023 of 4 October 2023) and approved the text of the Annex.

The Cabinet adopted the Information on the implementation of the Concession Agreement for the exploitation of red bauxite mineral resources from the deposits “Zagrad,” “Đurakov do,” “Štitovo II,” and “Biočki stan” in the municipality of Nikšić (No. 01-706/24 dated 30 September 2015). The concession holder, "ONICO S.A." from Warsaw, Poland, as the assignor, and the consortium “Uniprom" from Nikšić and “Uniprom-Metali" from Nikšić as the assignee, along with the Government of Montenegro – Ministry of Economy as the grantor, concluded an agreement on the transfer of the Concession Agreement. Since the exploitable reserves of red bauxite at the "Zagrad" site have been depleted, and reserves of associated mineral resources (construction stone) still exist, “Uniprom-Metali” submitted a request on 26 September 2024 for a concession to exploit construction stone within the existing mining area and for the duration specified in the original Concession Agreement. Granting this concession would retain the existing workforce, utilize the accompanying mineral resources, and ensure the payment of concession fees and applicable taxes. The Evaluation Commission has prepared a report recommending acceptance of the initiative, which has been submitted for approval to the Montenegrin Concessions Commission. The Commission approved the request to initiate the concession award procedure for the exploitation of construction stone at the "Zagrad" site, within the existing mining area, without conducting a public bidding process.

The Cabinet adopted the Information on the work of the Coordinating Body for harmonization and monitoring of inspection supervision. During the reporting period, specifically January and February 2025, inspections under the monitoring of the Coordinating Body conducted a total of 11,712 inspections. Of these, 8,364 were regular inspections, 957 were initiated based on specific requests, and 1,251 were control inspections to monitor the implementation of corrective measures. A notable increase in the number of inspections was recorded in February compared to January 2025. The total amount of fines issued during January and February reached €930,129, with a rise of €128,290 in February compared to January. A total of 108 requests for the initiation of misdemeanor proceedings were submitted to competent courts. As part of the Action Plan for enhanced inspections during the 2025 summer tourist season, intensified inspection activities are planned in six municipalities: Ulcinj, Bar, Budva, Kotor, Tivat, and Herceg Novi. These inspections will be carried out in four shifts, each lasting 15 days, from 29 June to 31 August.