The Central Bank of Montenegro reported on a meeting between Governor Irena Radovic and United Nations Development Programme (UNDP) Acting Administrator Haoliang Xu, centring on ongoing cooperation under the FINSTEM project to support the central bank’s digital transformation and efforts to build a modern, green and resilient financial system. FINSTEM was positioned as a platform for faster digitalisation and modernisation of the financial system, including strengthening resilience to climate and natural risks. Work under the project includes developing analytical and technical capacity to assess climate and natural risks, build resilience scenarios and enhance regulatory instruments. UNDP highlighted the operational entry of Montenegrin banks into the Single Euro Payments Area (SEPA) system and linked this to broader progress on a green financial ecosystem, while also pointing to joint efforts on digitisation, cybersecurity and resilient infrastructure to support alignment with European Union standards and global practices. The discussion also covered “greening” the central bank by integrating environmental and natural risks into regulatory and supervisory policies in line with practices among Eurosystem central banks. Both sides confirmed they will continue to strengthen their partnership, with a focus on initiatives supporting financial-system resilience, financial inclusion and sustainable development.
Central Bank of Montenegro 2025-10-08
Central Bank of Montenegro and UNDP reaffirm FINSTEM partnership for digitalisation and climate-risk integration
The Central Bank of Montenegro and the United Nations Development Programme discussed cooperation under the FINSTEM project to advance digital transformation and build a resilient, green financial system. The project aims to enhance analytical and technical capacity for climate risk assessment and regulatory improvements. The meeting also highlighted Montenegrin banks' integration into the Single Euro Payments Area and efforts to align with EU standards.