The Central Bank of Montenegro reported that Governor Irena Radovic took part in the 34th European Bank for Reconstruction and Development (EBRD) Annual Meeting and Business Forum in London, including a meeting with EBRD President Odile Renaud-Basso focused on deepening cooperation to expand financial inclusion and access to finance for women entrepreneurs in Montenegro. Discussions centred on implementing the ongoing WE Finance Code and Women on Boards projects. In a separate panel discussion on transforming financial systems to support women entrepreneurs, Radovic argued that financial systems still do not adequately recognise women entrepreneurs’ potential and that the gender gap in access to finance remains a barrier to economic growth. She cited a World Bank survey estimating that closing the gender gap could raise global gross domestic product by around 3% to 5% over the long term, presented the Central Bank of Montenegro’s WE Finance Code initiatives and Women on Boards programme (including their focus on improving access to finance for women-owned or women-led SMEs and preparing for the EU directive on gender balance in governance positions), and highlighted digital solutions as a tool to widen access, lower costs and reach women in rural areas and the informal economy.
Central Bank of Montenegro 2025-05-14
Central Bank of Montenegro advances EBRD cooperation on WE Finance Code and Women on Boards to improve finance for women entrepreneurs
Governor Irena Radovic of the Central Bank of Montenegro attended the 34th European Bank for Reconstruction and Development Annual Meeting, discussing with EBRD President Odile Renaud-Basso ways to enhance financial inclusion for women entrepreneurs. Radovic highlighted the gender gap in access to finance as a barrier to growth and presented initiatives like the WE Finance Code and Women on Boards programme to improve access for women-led SMEs. She emphasized digital solutions to expand access and reduce costs, particularly for women in rural and informal sectors.