The FINANCIAL — The EBRD is promoting the implementation of a fair and competitive business environment in Montenegro with a capacity building project for the national Agency for the Protection of Competition.
The project includes training for staff and judges on merger and antitrust cases, the introduction of econometric software to analyse competition cases and activities to raise public awareness about competition rules among businesses, according to the EBRD.
The project supports bringing Montenegro’s competition authority closer to EU standards as the country advances towards European integration. Funded by the Government of the Grand-Duchy of Luxembourg, it is part of the EBRD’s work to improve the investment climate and good governance in Montenegro.
Jaap Sprey, Head of the EBRD’s Office in Podgorica, said: “This undertaking could not be more timely as Montenegro aims to open the chapter on competition policy in its EU accession negotiations. The EBRD’s project, generously funded by Luxembourg, will help the country fulfill the necessary requirements to start the talks”.
Miodrag Vujović, Director of the Agency for the Protection of Competition, added: “We deem the EBRD’s technical assistance project is of great importance, considering the need to further strengthen the administrative capacities of the agency and the judiciary, as identified in the European Commission’s annual reports on Montenegro.”
The project will be implemented by the International Development Law Organization (IDLO) which an intergovernmental organization dedicated to the promotion of the rule of law.
The EBRD is a leading institutional investor in Montenegro. To date, it has invested some €550 million in over 50 projects in the country. Its investments aim to make the local economy more competitive, integrated and green. The Bank is also working with the government to advance policies that improve business environment in the country.