Montenegrin Government and World Bank Signed Loan Agreement

The government of Montenegro and World Bank have signed a loan agreement that should improve high education and scientific researches in Montenegro. The loan agreement will help reforms of education system and improve Montenegro’s science capacities.

Milorad Katnic, Finance Minister, and Anabel Abreu, Head of the WB Office for Montenegro and BiH, signed the agreement earlier today.

Montenegro will use the loan (12 million € for the period of 15 years, including the grace period of 4 years) for the “High Education and Research for Innovation” project.

The goal of this project is to improve the education system (especially high education) and strengthen research capacities. This will be achieved through implementing the competitive research grants that are focused on creating commercial innovations, empowering research teams and advancing Montenegro’s cooperation with other countries.

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