Environment

GEF supports development of green business in Montenegro

GEF-supports-development-of-green-businesses-in-Montenegro

Foto: Pixabay

Published

May 4, 2018

Country

Comments

comments icon

0

Share

Published:

May 4, 2018

Country:

Comments:

comments icon

0

Share

A Green Business Incubator is soon to be established in Montenegro within the project Growing Green Business in Montenegro. The project is supported by the Global Environment Facility (GEF) and implemented by the United Nations Development Program – UNDP.

The 800,000 USD funding agreement was recently signed by the UNDP Permanent Representative and UN System Coordinator in Montenegro, Fiona McCluney, and Minister of Tourism and Sustainable Development, Pavle Radulović.

The project aims to encourage especially the private sector investments in the green and low-carbon business development, and the project’s key activity is an establishment of a required regulatory framework in this area as a precondition for green businesses development.

The total project value is USD 5.4 million, and the remaining amount of USD 4.6 million is provided by the Investment and Development Fund of Montenegro  (USD 2.3 million) in the form of loans, by the Ministry of Tourism and Sustainable Development (USD 1 million) and by the city of Cetinje, Montenegro’s secondary capital with USD 1.2 million.

“The Green Business Incubator will be a platform for entrepreneurs’ training and mentoring, advisory services, permits, and licenses obtaining for future green business development. The private and public sector, the academic community and the other interested parties will be able to obtain the necessary information, knowledge and novelties on green entrepreneurship”, reads the press release of the Ministry of Tourism and Sustainable Development.

UNDP is at the moment implementing 34 projects that GEF has been financing in the form of grants in  Montenegro.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Turkey major lithium producer geothermal wells

Turkey aims to become major lithium producer with its geothermal wells

21 April 2025 - Existing geothermal wells alone can enable Turkey to become one of the world's major producers of lithium, JESDER's chief Ufuk Şentürk said

bih sarajevo Register of Air Emissions and the Information System of Air Pollutants home fireplaces

Sarajevo rolls out fully digital system to track air-polluting emissions

18 April 2025 - The capital of Bosnia and Herzegovina has developed a register of air-polluting emissions and an information system to track pollutants.

Serbian Minister Mining Energy Dubravka Djedovic Dedović Handanovi Sara Pavkov environment

Serbian Minister of Mining and Energy Dubravka Đedović Handanović gets third mandate; Sara Pavkov takes over environment

16 April 2025 - Minister of Mining and Energy Dubravka Đedović Handanović started her third term while new Minister of Environmental Protection Sara Pavkov is the cabinet's youngest member

serbia wood pellets rulebook on solid biomass fuels

Serbia adopts first ever rulebook on standards for wood pellets

15 April 2025 - Serbia has adopted the rulebook on solid fuels from wood biomass, which for the first time regulates the quality of pellets and briquettes