The World Bank’s Board of Executive Directors approved a EUR 8 million loan to Montenegro to modernize the country’s digital payments infrastructure, expand access to digital financial services for businesses and consumers, and reduce the cost of domestic and international transactions. The Montenegro Financial Infrastructure Modernization and its Alignment with Single Euro Payments Area (SEPA) Standards Project will support the introduction of fast or near-instant digital transactions and help Montenegro adopt the Target Instant Payment Settlement (TIPS) clone solution developed by Banca d’Italia with the support of the Eurosystem, aiming for compatibility with pan-European fast payment systems. The project expects to increase digital payment usage in Montenegro by about one third before 2030 and aims to reach an additional 110,000 people, including 70,000 women, with specific efforts targeting the estimated 15% of the population who remain unbanked. The initiative is positioned within the World Bank’s broader financial sector modernization work in the Western Balkans and aligns with Montenegro’s 2025–2029 Country Partnership Framework.
World Bank 2025-07-28
World Bank approves EUR 8 million loan to modernize Montenegro’s digital payments infrastructure and align with SEPA standards
The World Bank approved an EUR 8 million loan to Montenegro to modernize its digital payments infrastructure and expand access to digital financial services. The project aims to introduce fast digital transactions, adopt the Target Instant Payment Settlement (TIPS) clone solution, and increase digital payment usage by one third before 2030. It aligns with Montenegro's 2025–2029 Country Partnership Framework and targets reaching 110,000 more people, including 70,000 women.