WASHINGTON, September 9, 2016 — The World Bank Groups’ Board of Executive Directors today approved an additional financing loan in the amount of EUR 3.0 million (US$ 3,343,800 equivalent) for the Montenegro Institutional Development and Agriculture Strengthening Project (MIDAS).
Building on the successes of the original project, the additional financing will provide further resources to strengthen rural areas and increase the country’s preparedness for European Union accession requirements. It would allow for the expansion of the institutional capacity building achieved to date to manage public funds dedicated to agricultural support.
The original MIDAS project has so far assisted in establishing the capacity of Montenegro to implement an Instrument for Pre-Accession Assistance in Rural Development (IPARD) compatible system, a paying agency, farm registry, and pilot IPARD-like grant scheme supporting investments in agriculture holdings and the introduction of agri-environmental measures through five rounds of grants. Around 660 farmers, 60 percent of whom live in the poorer north, received IPARD-like grants to enhance their agricultural production. The project also supported strengthening of the country Food Safety System, including developing of the regulatory framework, building a Border Inspection Post and upgrading of national reference labs.
“This project offers direct support to the people of Montenegro”, said Tatiana Proskuryakova, World Bank Country Manager for Montenegro. “Projects like MIDAS help create jobs and enable agriculture producers to improve their livelihoods.”
MIDAS is also an example of excellent collaboration between the Ministry of Agriculture and Rural Development of Montenegro, European Union and the World Bank.
The World Bank portfolio of active projects in Montenegro includes four operations, totaling approximately US$120 million. Areas of support include environment, agriculture and rural development, higher education, and energy.