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

Turkish geothermal power plant operator drill for geothermal lithium

Turkish renewables firm to drill for geothermal lithium

26 July 2025 - Margün Energy intends to search for lithium in geothermal water in western Turkey, where it took over a 12 MW geothermal power plant

Three cities reviving protests against Rio Tinto lithium project Jadar in Serbia

Three cities reviving protests against Rio Tinto’s lithium project in Serbia

20 July 2025 - Opponents of Rio Tinto's plan to mine and process a lithium and boron ore called jadarite in western Serbia held a protest in Loznica

bih epbih waste incineration tpp tuzla trial

BiH’s power utility EPBiH cancels waste co-incineration trial in Tuzla coal plant

18 July 2025 - Power utility Elektroprivreda Bosne i Hercegovine aborted a waste co-incineration test at its Tuzla coal power plant

Belgrade in focus challenges and solutions for sustainable urban development Ivan Gazdic cms

Belgrade in focus: challenges and solutions for sustainable urban development

17 July 2025 - The author of the feature is Ivan Gazdić, Attorney at Law and Partner at Petrikić & Partneri AOD in cooperation with CMS Reich-Rohrwig Hainz