The Parliament of Montenegro has adopted the Draft Law on the Ratification of the Agreement on Accession to the Instrument between the European Union and Montenegro for Special Arrangements in Implementing EU Support to Montenegro under the Instrument for Reforms and Growth, thus marking one of the key steps in implementing the Growth Plan for the Western Balkans for the period 2024-2027.
“Today, we are on the verge of finalising the legal framework that will enable the implementation of the Growth Plan and ensure accelerated economic growth and faster convergence of key macroeconomic indicators towards the average values in the EU Member States. By ratifying this agreement and bringing it into force, we will facilitate the operational use of funds allocated to Montenegro within the Instrument for Reforms and Growth, including its crucial segment – the Reform Agenda,” stated Minister of European Affairs Maida Gorčević in her address to MPs.
Funds from the Growth Plan for the Western Balkans are allocated through seven regular semi-annual tranches of support, with each tranche’s disbursement depending on the successful implementation of planned reforms. Additionally, an eighth tranche is fixed and intended for pre-financing, amounting to 7% of the total available funds.
“Its implementation, amounting to €26.85 million, is expected following the ratification of the Agreement on Accession to the Instrument and the signing of the Loan Agreement with the European Commission. The seven regular semi-annual tranches are disbursed based on the fulfilment of specific quantitative and qualitative steps, which are detailed in the Reform Agenda,” explained Gorčević.
Gorčević reminded that Montenegro’s commitment to reforms and alignment with European standards is best reflected through the results achieved so far, which are evident in the implementation of significant steps outlined in the Reform Agenda.
“Although the deadline for implementing the first 14 steps from the Reform Agenda has not yet expired, our administration is making additional efforts to finalise all activities. I am extremely proud to report that we have already made significant progress in many areas,” Gorčević emphasised.
The Draft Law on the Ratification of the Agreement on Accession to the Instrument between the European Union and Montenegro for Special Arrangements in Implementing EU Support to Montenegro under the Instrument for Reforms and Growth was also discussed by the Legislative Committee and the Committee on International Relations and Emigrants.