Central Bank of Montenegro completes Phase II of EU-funded ESCB integration capacity-building programme led by the Bundesbank

The Central Bank of Montenegro participated in the closing ceremony for Phase II of the EU-funded “Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks”, concluding a three-year initiative aimed at preparing beneficiary central banks for closer alignment with European central banking standards. The Deutsche Bundesbank implemented the programme in partnership with 19 national central banks of the European System of Central Banks and the European Central Bank, supported by EUR 3 million of EU funding under the Instrument for Pre-Accession Assistance (IPA III). The programme focused on strengthening institutional capacity, including analytical tools and policy frameworks, and transferring international and European standards into national practice. The Central Bank of Montenegro reported enhanced capacities across leadership, risk management, operational resilience, banking supervision, anti-money laundering, financial stability, payment systems, statistics and digitalisation, supported by more than 500 expert-days of bilateral activities. At the closing event, Bundesbank Executive Board member Burkhard Balz highlighted the need for continued efforts on full compliance with European standards, safeguarding central bank independence, and addressing emerging risks linked to digitalisation and geopolitical tensions, while a European Commission representative described the programme as contributing to Western Balkan central banks’ preparedness for ESCB integration.