WASHINGTON, March 5, 2020 - The World Bank’s Board of Executive Directors today approved the following guarantee:
Montenegro Second Fiscal and Financial Sector Resilience Policy Based Guarantee
IBRD Guarantee: EUR 80.00 million (US$ 90.00 million equivalent)
Project ID: P167665
This program supports reforms to safeguard fiscal sustainability and make the financial sector more resilient to potential shocks. These reforms are consistent with the government’s Fiscal Strategy 2017-20 and the Economic Reform Program for 2019-21. The operation is the second in a series of two programmatic policy-based guarantees organized under two pillars (i) strengthening fiscal sustainability; and (ii) strengthening financial sector resilience, that underpin and inform the government’s reform agenda. These pillars closely complement each other reinforcing the impact of the reform program.
For more information: https://projects.worldbank.org/en/projects-operations/project-detail/P167665