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

0

Share

Published:

May 4, 2018

Country:

Comments:

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

waste-export-eu-ban-truck

Waste is a resource: EU to impose stricter rules, ban plastic waste export

24 January 2023 - The EU is looking to ban the export of all waste intended for disposal, as well as plastic waste shipments to non-OECD countries

form-energy-iron-air-battery-first-factory

Iron-air batteries are 10 times as cheap as lithium, and will be produced from 2024

24 January 2023 - To replace lithium, alternatives are being developed around the world, such as iron-air batteries, whose commercial production will begin in the US in 2024

luzerath-village

Coal wins battle against climate action in tiny German village

20 January 2023 - The eviction of the village residents and the coal mine expansion are a result of the German government's compromise with RWE

dollar-usaid-investment-energy-project

USAID issues call for USD 20 million regional energy investment project

17 January 2023 - USAID's project aims to find investors for commercially and environmentally sustainable energy projects in the region