EIB Strengthens Presence in Montenegro with €20.3M Education Investment

On July 5, 2025, a landmark partnership was sealed at the European Investment Bank (EIB Global)’s headquarters in Luxembourg. EIB Vice-President Robert de Groot and Montenegro’s Minister of Finance Novica Vuković signed a Host Country Agreement that formalizes EIB’s physical presence in Montenegro. This agreement represents a significant milestone in the strategic cooperation between the EU bank and the Western Balkan country.

With the new agreement in place, EIB Global can now station a dedicated representative within Montenegro, enabling deeper cooperation on infrastructure, education, and climate resilience projects. The move symbolizes EIB’s long-term commitment to supporting Montenegro’s EU accession journey and economic modernization.

€20.3 Million Boost to Montenegro’s Education Sector

In a ceremony attended by key figures including Montenegro’s Minister of Education Andjela Jakšić-Stojanović and UNOPS Deputy Executive Director Kirstine Damkjaer, EIB Global also announced a substantial new investment package for Montenegro’s education sector.

The €20.3 million financing package includes:

• €18 million loan to the Montenegrin government to support renovation and digitalisation of pre-primary, primary, and secondary schools.

• €2.3 million grant to the United Nations Office for Project Services (UNOPS) for technical assistance and infrastructure assessments.

The grant, offered under the EIB’s Economic Resilience Initiative (ERI), will be managed by UNOPS and will directly support the Ministry of Education in identifying infrastructure priorities, ensuring that the investments are deployed in a strategic, sustainable, and impactful manner.

Scope and Impact of the Investment

The education investment aims to:

• Renovate and modernize school infrastructure.

• Enhance energy efficiency in school buildings.

• Equip vocational training centers with state-of-the-art equipment.

• Promote digital transformation in classrooms.

These initiatives are expected to enhance learning environments, improve youth employability, and foster innovation and resilience in Montenegro’s education system.

Minister Jakšić-Stojanović hailed the collaboration as “the most comprehensive investment in education infrastructure in the history of our country.” The education overhaul is part of the project titled “Enhancing the Montenegrin Education System”, jointly implemented by the Ministry of Education, Science and Innovation, the Ministry of Finance, and EIB Global.

Cumulative EIB Support Reaches €55 Million

With this new package, EIB Global’s total support for Montenegro’s education sector reaches €55 million since 2019. This includes an additional €11 million EU grant provided through the Western Balkans Investment Framework (WBIF).

One of the tangible outcomes of previous investments is the opening of the modernized Vladimir Nazor primary school in Podgorica, which stands as a model of energy-efficient and digitally equipped schooling.

Stakeholder Voices

• Robert de Groot, EIB Vice-President, emphasized the transformative power of the agreement: “By creating a cutting-edge learning environment, we will deliver immediate and lasting benefits for students and teachers across Montenegro.”

• Finance Minister Novica Vuković stated: “These investments are not just about renovating schools – they are about investing in people, knowledge, and Montenegro’s future.”

• UNOPS Deputy Executive Director Kirstine Damkjaer noted: “This partnership is a turning point for the country’s education infrastructure, with targeted support to make schools enablers of national reforms.”

• EU Ambassador to Montenegro Johan Sattler remarked: “This strategic investment supports long-term development, social cohesion, and Montenegro’s path to EU membership.”

Looking Ahead

The Host Country Agreement and education funding signify a new chapter in the EIB–Montenegro partnership. With boots on the ground and capital flowing into critical sectors, the EIB is poised to be a key player in Montenegro’s economic and social transformation. The close collaboration with UNOPS and EU institutions ensures that every euro invested will translate into meaningful, long-lasting impact for Montenegrin citizens.

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