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

lopare lithium petition protest ban

Lopare municipality demands from Republic of Srpska to reject lithium project

23 February 2024 - Head of the Municipality of Lopare Rado Savić has submitted a petition to the National Assembly of the Republic of Srpska

sarajevo urban mobility MOBILITIES for eu project

Sarajevo to develop green mobility as part of group of European cities

22 February 2024 - Together with Madrid, Dresden, Ioannina, Trenčín, Espoo and Gdańsk, the capital of BiH strives to reduce pollution and improve citizens' health

Djedovic Dedovic Serbia billions under our feet strategic minerals

Serbia’s Đedović: We have billions under our feet in strategic minerals

22 February 2024 - Strategic minerals must be used in the best interest of the economy, according to Serbia's Minister of Mining and Energy Dubravka Đedović

serbia necp pks ldk energy planning

Pivotal project aiming to reshape energy landscape in Serbia was finalized successfully

15 February 2024 - The IPA financed project "Further Development of Energy Planning Capacities" has served as an example of collaboration among all the energy sector stakeholders in the country for methodological strategic planning