oktobar 2020 godina 13, broj...

oktobar 2020godina 13, broj 50

Dobro došli u svijet privilegija

BANKARBroj 50 / oktobar 2020.

IZDAVAČUdruženje banaka Crne Gore Novaka Miloševa bb/3 PodgoricaTel: +382 20 232-028 www.ubcg.info

TIRAŽ: 600 primjerakaČasopis izlazi kvartalno.

Rješenjem Ministarstva kulture, sporta i medija časopis Bankar je upisan u Evidenciju medija - štampani mediji 17. marta 2008, pod rednim brojem 641.

REDAKCIJSKI ODBORglavni i odgovorni urednikmr Bratislav Pejakoviæ

Prof. dr Aleksandar Živkoviæ,dr Nikola Fabris,dr Saša Popoviæ,mr Nebojša Ðokoviæ

tehnički urednik Goran Kapor

dizajn i prelomNikola Latkoviæfotografijedepositphotos.com i fotodokumentacija UBCGprevodMilena Ljumoviæštampa Grafotisak, Grude, BIH

Prilozi - tekstovi se dostavljaju u elektronskom obliku na e-mail adrese: [email protected], [email protected]; maksimalna dužina teksta do 25.000 karaktera.- reklame po normativima UBCG na e-mail: [email protected]

BANKARČasopis Udruženja banaka Crne GoreBroj 50 / oktobar 2020.

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Bratislav Pejaković, intervju za Bankar I “Bankar” I Banke će se razvIjatI sa novIm Idejama The "Bankar" and banks will both develop with emergence of new ideas

Wim Mijs evropske Banke ostaju posvećene klIjentIma za vrIjeme pandemIje European banks remain committed to clients during the pandemic

EIB eIB – četIrI decenIje podrške zapadnom Balkanu EIB – Four Decades of Support to the Western Balkan Region

mr Bratislav Pejaković FInansIjskI IzazovI pandemIje covId-19 u crnoj GorI Financial Challenges of the COVID-19 Pandemic in Montenegro

Berislav Kutle strah Izazvan covIdom većI I od same BolestI? Fear caused by COVID-19 greater than the disease itself?

Udruženje banaka Ruske federacije pozItIvan rast krajem 2021. alI će oporavak trajatI duže Positive Growth by the End of 2021, but the Recovery Will Last Longer

Vladimir Vasić GodIna u znaku promena A Year of Change

Dr Velimir Šonje eu sredstva kao poluGa za razvoj? EU Funds as a Leverage for Development?

Miodrag Kirsanov Folar – novac Grada svača Folar - money of the town of Svač (Shas -Svatsh)

:B Šta nam donosi jubilarni 50. broj časopisa “Bankar”?

Sa zadovoljstvom publikujemo 50-ti broj časopisa “Bankar”, na ponos uredničkoj ekipi i članovima Udruženja banaka Crne Gore koje jeste inicijator i osnov pokretačke snage ovog stručnog časopisa. Jubilarni broj je malo drugačiji u smislu da smo željeli da predstavimo regionalni pogled na bankarstvo, ali i tekstove naših kolega iz Evropske bankarske federacije iz Brisela i Udruženja banaka Rusije iz Moskve, ali i uvid u urađeno i šta nas očekuje kroz saradnju sa Evropskom investicionom bankom. Imamo tekstove uvaženih kolega iz BiH g-dina Berislava Kutlea i g-dina Vlada Vasića iz Srbije. Vrlo interesantan uvid, poli-tičku pozadinu, uslove, strukturu, dinamiku i učinke povlačenja novca iz zajedničke evropske blagajne, daje

nam g-din Velimir Šonje, poznati Hrvatski ekonomsko finansijski analitičar. U prikazu reakcije na COVID 19 i uvid na stanje bankarskog sistema u Crnoj Gori takođe imamo tekst opisni i sa datim podacima kroz tabele, koji daje jasnu sliku kvalitetnog rada banaka u Crnoj Gori. Naravno u skladu sa tradicijom našeg časopisa dajemo i prikaz novca u doba Balšića kroz tekst g-dina Miodraga Kirsanova.

:B Kako je formiran časopis Bankar?

Upravni odbor Udruženja banaka je donio Odluku o pokretanju stručnog časopisa za bankarstvo i finansije “Bankar”, 11. marta 2008. godine, kao i učešću banaka i Centralne banke Crne Gore u njegovom finansira-nju. Rješenjem Ministarstva kulture, sporta i medija,

Budućnost poslovanja banaka je u digitalizaciji sa ciljem smanjenja troškova i povećanja prihoda. Na prihode u narednom periodu značajno će uticati smanjenje kamatnih stopa, spread-a između aktivnih i pasivnih kamata. Neophodno je razviti digitalnu strategiju, jer će jednostavnost, brzina, kvalitet usluge i bezbjednost biti parametri za odabir banke za saradnju, kazao je u intervjuu za “Bankar” generalni sekretar Udruženja banaka Crne Gore Bratislav Pejaković

I “Bankar” i banke će se razvijati sa novim idejama

INTERVJU SA GENERALNIM SEKRETAROM UDRUŽENJA BANAKA CRNE GOREBRATISLAVOM PEJAKOVIĆEM

oktobar 2020 | :Bankar

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The "Bankar" and banks will both develop with emergence of new ideas

:B What does the jubilee 50th issue of the "Bankar" magazine bring us?

We are pleased to publish the 50th issue of the magazine "Bankar", giving the credit to the editorial team and members of the Association of Banks of Montenegro, which is the initiator and a driving force of this profes-sional magazine. The jubilee issue is a little different in the sense that we wanted to present a regional view of banking industry, articles of our colleagues from the European Banking Federation from Brussels and the Association of Russian Banks from Moscow, and through cooperation with the European Investment Bank, to give an insight into what has been done so far and what awaits us. Our dear colleagues from Bosnia and Herzegovina, Mr. Berislav Kutle and Serbia, Mr. Vlado Vasić, wrote articles for this issue. Mr. Velimir Šonje, a well-known Croatian economic and financial analyst, gives us a very interesting insight, political background, conditions, structure, dynamics and effects of withdrawing money from the common European treasury. Another article presents the re-action to the COVID-19 pandemic and the situation of the banking system in Montenegro, giving a clear

picture of the operations of banks in Montenegro through a descriptive text and data provided in tables. In addition, in accordance with the tradition of our magazine, there is an overview of money used dur-ing the Balšić period, which is given by Mr. Miodrag Kirsanov through his article.

:B How was the Bankar magazine created?

On 11 March 2008, the Management Board of the Association of Banks passed the Decision on launching the professional magazine for banking and finance the "Bankar", as well as on the participation of banks and the Central Bank of Montenegro in its financing. By the decision of the Ministry of Culture, Sports and Media, the magazine "Bankar" was entered in the Register of Print Media on 17 March 2008.

The magazine is published quarterly in colour, bilingually in Montenegrin and English language, on quality paper. The concept of the magazine envisages to be a professional bulletin of all banks, while opening current topics concerning banking and financial theory and practice. The magazine has a recognisable form,

The future of banking operations is in digitalisation with the aim of reducing costs and increasing income. Income in the coming period will be significantly affected by the reduction in interest rates, the spread between the lending and deposit interest rates. It is necessary to develop a digital strategy, because simplicity, speed, quality of service and security will be indicators for choosing a bank for cooperation, said in an interview for the "Bankar" magazine Secretary General of the Association of Banks of Montenegro Bratislav Pejaković

OF BANKS OF MONTENEGRO BRATISLAV PEJAKOVIĆINTERVIEW WITH THE SECRETARY GENERAL OF THE ASSOCIATION

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časopis “Bankar” je upisan u Evidenciju štampanih medija 17.marta 2008.godine.

Časopis izlazi kvartalno u kolor tehnici, dvojezično na crnogorskom i engleskom jeziku, na kvalitetnom papiru. Koncept časopisa predviđa da bude stručno glasilo svih banaka, da otvara aktuelne teme koje se tiču bankarske i finansijske teorije i prakse. Časopis ima prepoznatljivu formu, po kojoj je na početku uvodna riječ Generalnog sekretara Udruženja o konkretnom broju, intervju sa nekim od vodećih ljudi u institucijama vezanim za bankarstvo, ekonomiju i finansije (premijer, ministri finansija, guverneri, izvršni direktori banaka, vodeće ličnosti Evropske komisije u Crnoj Gori, najvećih revizorskih kuća, predstavnika MMF-a, WB i sl.), a nakon toga slijede autorski tekstovi, a završava se odgovorom na ope-rativna pitanja u bankarskom poslovanju, bankar-skim pojmovnikom, ili temom vezanom za istorijat bankarstva u Crnoj Gori. Redovno imamo tekst značajnog autora iz inostranstva, gdje su i autori iz Evropske bankarske federacije iz Brisela (u kome je

UBCG pridruženi član). Obzirom da je EBF najveći lobista bankarske industrije u Evropi i da ima veliki uticaj na donošenje gotovo svih propisa EU u oblasti bankarstva, ovo je dalo poseban kvalitet i podiglo imidž časopisa u zemlji i inostranstvu.

Zaključno sa jubilarnim 50-tim brojem, svoje tek-stove i intervjue je objavilo 250 autora (175 domaćih i 75 stranih, plus 8 članova tima EBF). Struktura autora je slijedeća, 57 doktora nauka, profesora sa fakulteta,

45 magistra, i ostalo su visokopozicionirane ličnosti institucionalno bitnih za bankarsko poslovanje. Dodatni kvalitet je u informaciji da u prosjeku, svaki broj “Bankara” je imao 5-6 novih autora.

“Bankar” se redovno dostavlja svim bankama, Vladi Crne Gore, ministarstvima, svim Univerzitetima u Crnoj Gori, ambasadama u Crnoj Gori, EBF u Briselu, Međunarodnom bankarskom savjetu, Svjetskoj banci, Evropskoj komisiji u Crnoj Gori, medijima, ATTF-u u Luksemburgu, kao i pojedinim udruženjima banaka sa kojima UBCG ima najbolju saradnju. Takođe, časopis se dostavlja gostima UBCG koji dolaze iz zemlje i inostranstva (npr.MMF-u, WB, EBRD-u kao i gostujućim predavačima na seminarima), a 12 pri-mjeraka od svakog broja ide Narodnoj biblioteci Crne Gore na Cetinju, za arhiv. Časopis se dijeli besplatno i predstavljao je do sada “ličnu kartu” bankarstva Crne Gore, gdje je nažalost i jedini časopis za bankarstvo, ili finansije u Crnoj Gori.

:B Koja je misija i djelatnost, Udruženja banaka Crne Gore?

Misija Udruženja banaka je unapređivanje ban-karskog poslovanja svojih članica, organizovanja i uspostovljanja poslovne saradnje sa partnerima u zemlji i inostranstvu, radi zastupanja i zaštite zajed-ničkih interesa članica kod Centralne banke Crne Gore, nadležnih državnih organa i organizacija, kao i pred međunarodnim organizacijama i institucijama. Intenzivnu saradnju imamo sa Evropskom bankarskom federacijom, Međunarodnim bankarskim savjetom i Interbalkanskim formumom, kao i sa ATTF-om iz Luksemburga gdje šaljemo naše bankare na obuku, kao i sa udruženjima iz regiona. Na domaćem “te-renu” jaču saradnju imamo sa CBCG i MiF kod do-nošenja zakonskih i podzakonskih akata koji se tiču bankarskog poslovanja, ali živu saradnju imamo sa svim institucijama u zavisnosti od potrebe rješavanja aktuelnih stavki koji utiču na bankarsko poslovanje, gdje bih naveo i kvalitetne sastanke sa predstavnicima MMF-a i Svjetske banke.

Djelatnost Udruženja posebno obuhvata ujednačavanje i usklađivanje bankarske prakse sa standardima Evropske unije, njegovanje dobrih poslovnih običaja i poslovnog



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according to which it begins with the introduction of the Secretary General of the Association about the specific issue, followed by an interview with some of the leading people in institutions related to banking, economy and finance (Prime Minister, Finance Ministers, Governors, or CEOs, leading persons of the European Commission in Montenegro, the largest audit firms, representatives of the IMF, World Bank, etc.), and authors’ articles to end with answers to operational questions in banking industry, banking glossary, or a topic related to the history of banking in Montenegro. The article of an important author from abroad is present in every issue, where there are also authors from the European Banking Federation from Brussels (in which the UBCG is an associate mem-ber). Given that the EBF is the largest lobbyist in the banking industry in Europe and has a great influence on the adoption of almost all EU regulations in the banking area, this has given a special quality and raised the image of the magazine in the country and abroad.

As of the jubilee 50th issue of the magazine, 250 authors (175 domestic and 75 foreign, plus 8 members of the EBF team) published their articles and gave interviews for

the magazine. The structure of the authors is as follows, 57 authors holding a PhD, professors at the faculties, 45 authors holding M.Sc, and the remaining number refers to high-ranking persons that are institutionally impor-tant for banking business. The fact that 5-6 new authors present their articles in every issue of the Bankers adds to its quality.

The "Bankar" is regularly delivered to all banks, the Government of Montenegro, ministries, all universities in Montenegro, embassies in Montenegro, the EBF in Brussels, the International Banking Council, the World Bank, the European Commission in Montenegro, the media, the ATTF in Luxembourg, as well as individual associations of banks with which the UBCG has the best cooperation. Also, the magazine is delivered to domestic and foreign guests of the UBCG (e.g. IMF, WB, EBRD as well as guest lecturers at seminars), and 12 copies of each issue go to the National Library of Montenegro in Cetinje, for archiving. The magazine is distributed free of charge and has been so far the "identity card" of banking in Montenegro, and, unfortunately, it is the only magazine for banking or finance in Montenegro.

The fuTure of Banks' operaTIons Is In dIgITalIsaTIon

:B What do you think is the future of banking?

The future of banks' operations is in digitalisation with the aim of reduc-ing costs and increasing income. Income in the coming period will be significantly affected by the reduction of interest rates, the spread between the lending and deposit interest rates. It is necessary to develop a digital strategy, because simplicity, speed, quality of service and security will be the indicators for choosing a bank for cooperation. In addition to the challenge of gaining a larger market share, significant attention will be paid to retaining existing customers and importing as many customer services as possible, increasing the consump-tion of the existing customers in the

context of strong competition.Customer needs are changing and

digitisation is becoming the standard. It is recommended to adopt a clear digital strategy that does not focus exclusively on new customers and technologi-cal innovations, but also on "cultural transformation". Simplicity, speed and security will be the most important items for concluding new contracts.

When we talk about mobile bank-ing or mobile payment services as a type of distribution channel in our country, they are still an insufficiently exploited services, both for banks and customers in our country contrary to global trends where digitalisation has taken a huge step forward. Banks

should make the first step by accept-ing and implementing it, and in order to introduce the customers with this area they should have promotional campaigns emphasising the benefits and removing the barrier of igno-rance. The basis of every action and special importance is in knowing your customers, because each customer has their own characteristics, needs for different services where differ-ent distribution channels are used. The millennials have not yet started working, and yet the older population is not prone to innovation in large numbers, but to traditional banking, which limits stronger penetration of digitalisation.

OF BANKS OF MONTENEGRO BRATISLAV PEJAKOVIĆINTERVIEW WITH THE SECRETARY GENERAL OF THE ASSOCIATION october 2020 | :Bankar

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morala i utvrđivanje pravila poslovnog ponašanja članica međusobno i sa trećim licima, edukacija kako bankara, tako i približavanje bankarskog poslovanja javnom mnenju u cilju smanjenja mogućnosti nega-tivnih komentara i tumačenja standarda rada banaka.

Poslovanje Udruženja ostvaruje, radom organa i tijela Udruženja: Skupštine, Upravnog odbora, Generalnog sekretara, Suda časti i Arbitraže. Kao

oblici organizovanja i rada Udruženja za pojedine oblasti djelatnosti obrazovani su stručni odbori. Stručni odbori su formirani kao radna i savjetodavna tijela Upravnog odbora.

Kroz saradnju sa domaćim medijima radimo na finansijskoj inkluziji. Veliki je akcenat u našem radu na konstantnom usavršavanju bankara, angažovanjem inostranih predavača kroz radionice i prezentacije savremenih dostignuća u svim segmentima bankar-skog poslovanja, i time pravovremeno pripremamo bankare za inovacije i međunarodne standarde u poslovanju. Akcent je na trendovima u digitaliza-ciji i syber sigurnosti, digitalnog novca, domaćeg i međunarodnog platnog prometa, kartičarstva, fraud-prevarnih poslova, PSD2 standarda, Bazel III standarda, aktuelnog AQR-a itd.

Sa vodećim revizorskim kućama radimo na pre-zentaciji rješenja kod implementacije međunarodnih standarda. Zadnje tri godine, do izbijanja pandemije skoro 1.000 bankara je prošlo radionice u organiza-ciji Udruženja. Obuka bankara je vrlo specifična, izrazito skupa za lokalne prilike, gdje dvodnevni kurs u Londonu, Beču, Briselu, ili Luksemburgu ne može biti ispod 2,5 hiljade eura, pa je računica jed-nostavna, gdje dovodimo prvorazredne predavače u saradnji sa sponzorima kao što je Finance in motion i EFSE njemačkim razvojnim fondom i agencijom, ali i MasterCard-om, kao prepoznatljivim svjetskim brendom u sferi kartičarstva.

:B Da li će banke nestati i u kom pravcu će se razvijati?

Već pedesetak godina se vodi polemika o dopri-nosu bankarskog sistema privrednom razvoju i da li će se uloga banaka vremenom značajno smanjiti. Osnovne funkcije su u posredništvu između aku-mulirane štednje i vršenje platnog prometa, dok u razvijenim sistemima imate finansijske derivate i spekulativne poslove. U dijelu kreditiranja, teško može da se nađe posrednik koji može efikasnije vršiti alokaciju odložene potrošnje i da je voljan plasirati sredstva na recimo 25 godina, što banke rade. U dijelu plaćanja, scenario pada uloge banaka

BudućnosT poslovanja Banaka je u digiTalizaciji

:B Šta je po Vama budućnost bankarstva?

Budućnost poslovanja banaka je u digitalizaciji sa ciljem smanjenja troškova i povećanja prihoda. Na prihode u nared-nom periodu značajno će uticati smanjenje kamatnih stopa, spread-a između aktivnih i pasivnih kamata. Neophodno je razviti digitalnu strategiju, jer će jednostavnost, brzina, kvalitet usluge i bezbjednost biti parametri za odabir banke za saradnju. Pored izazova uzimanja većeg udjela na tržištu, značajna pažnja će se posvećivati zadržavanju postojećih klijenata i uvezivanje što većeg broja usluga klijentima, povećanje potrošnje postojećih klijenata u kontekstu jake konkurencije i sl.

Potrebe klijenata se mjenjaju, a digitalizacija postaje standard. Preporučuje se usvajanje jasne digitalne strategije koja se ne fokusira isključivo na nove klijente i tehnološke inovacije, veći i na “kulturološku transformaciju”. Jednostavnost, brzina i bezbjednost biće najbitnije stavke za sklapanje novih ugovora.

Kada govorimo kod nas o mobilnom bankarstvu (m-banking) odnosno mobilnom plaćanju (m-pay usluge) kao vid distri-butivnog kanala kod nas predstavljaju još uvijek nedovoljno eksploatisani servis, kako za banke tako i za potrošače, gdje je u tom svijetlu širom svijeta digitalizacija „zagazila“ u velikom stilu. Prvi korak svakako treba da naprave banke, prihvatanjem i implementacijom, a zatim u cilju upoznavanja nastupiti sa promotivnim kampanjama sa akcentiranjem prednosti i uklanjanje barijere neobavještenosti. Osnov svake akcije i posebna važnost jeste u poznavanju svojih klijenata, jer svaki klijent ima svoje osobenosti, potrebe za različitim uslugama gdje se koriste različiti kanali distribucije. Milenijumci još nijesu počeli da rade, a starija populacija ipak nije sklona inovacijama u većem broju, već tradicionalnom bankarstvu, tako da su to limiti jačeg prodora digitalizacije.



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može doći ukoliko posrednik omogući efikasnije, jeftinije i pristupačnije plaćanje, gdje su finTech i telekomunikacione kompanije već pronašle interes, a vrijeme će pokazati uspješnost, ili ne. Decenijama unazad u svijetu, postojao je veći broj pokušaja velikih firmi sa velikim bazama klijenta od maloprodajnih, osiguravajućih kuća i telekomunikacinih kompanija sa prometima u milijardama eura, ili USA dolara, koje nijesu osvojile posao kako su smatrali da mogu u usvajanju bankarskih poslova od kreditiranja do udijela u kartičarstvu i platnog prometa. Najkraće rečeno, odustali su od samostalnih djelovanja, kao svojevremeno npr. Marks and Spencer plc. Great Britain, Kider Pibody, General Elektric Capital u SAD-u itd. Teško da u dijelu depozitnih, ili garan-cijskih poslova, praćenja velikih infrastrukturinih projekata, kreditiranja, praktikovanje tehnika i tehnologija poslovanja, procjene rizika, raspoloživih informacija kako o prometu samog klijenta tako i prioritetima ekonomskih kretanja, umanjenje rizika kroz pool portfolija kojim raspolažu banke i koje se kalilo stotinama godina, da se može parirati bankama.

:B Kako prevazići krizu?

Teorijski postavljeno, krize u finansijskom sektoru se izbjegavaju monetarnom politikom, fiskalnom politikom i obezbjeđenjem optimalnih uslova za privredni razvoj. Monetarnom politikom se utiče na trošak i pristupnost kreditima, a sa fiskalnom politikom dijeli, ili slijedi ciljeve promocije eko-nomskog rasta, pune zaposlenosti, stabilnosti cijena, niske stope inflacije, utiču na tražnju za kreditima i izbalansirane trgovine sa drugim zemljama. Kroz monetarnu politiku Centralna banka pokušava da reguliše kako kamatne stope tako i snabdjevanje privrede novcem. Međutim, pored negativnih efe-kata recesije koja predstavlja dio poslovnog ciklusa, a danas i posledica pandemije, recesija služi i kao korektor troškova proizvodnje i kapitalnih dobara na niže uslijed smanjene tražnje. Samim tim sprema se ekonomija za naredni dio ciklusa i izlaza iz krize. Recesija je ipak dvosjekli mač, jer pored podsticajnih uslova za obnavljanje profitne stope, ona u cjelini

pogoršava uslove investiranja na strani potražnje. Podjednako je loše imati dobru cijenu, a nemati kupaca, kao i imati puno kupaca, ali i visoke troš-kove koji ne omogućavaju profit. Pozitivan pristup bio bi da se pored smanjenja troškova pripremaju nove investicije, naglasio bih neophodne za razvoj države, infrastrukturne poslove.

Kada govorimo o firmama, u skladu sa restruktu-riranjem treba da se rade značajne izmjene strukture duga, strategije, poslovanja i organizacione strukture, a u cilju postizanja veće efikasnosti i adaptacije na nove tržišne uslove poslovanja. Međutim, restruk-turiranje mora obuhvatiti mnogo više od restruktu-riranja dugovanja i strukture kapitala, jer ovi koraci sami za sebe ne donose ništa više od privremenog olakšanja, odnosno ne rješavaju suštinske probleme poslovanja tj. interne neefikasnosti koje su dovele do finansijskog problema na prvom mestu, a onda i eksternih uticaja.

Pored navedenog, Nobelovac Pol Romer, profesor na Univerzitetu Njujork, ukazao je da dugoročne razlike u stopama rasta imaju zapanjujuće posljedice. Ako dvije ekonomije kreću s jednakim BDP-om po glavi, ali jedna raste po stopi od 4 odsto većoj, postaće pet puta bogatije u 40 godina. Skromniji, 2 postotni rast, udvostručiće nacionalni dohodak u 40 godina.

Romer je konstruisao model koji ističe presudnu ulogu znanja i ideja u ekonomskom rastu. Podijelio je ekonomiju u dva sektora, realni i sfera ideja, što mu je omogućilo da artikuliše i identifikuje ključne odrednice povrata od inovacija. Objekti, fizički kapital u ekonomiji su oskudni i podložni zakonu opadajućih prihoda, zaključio je, dok znanje i ideje, s druge strane, nikad nijesu oskudni. Stoga, akumuliranje ideja, rast koji guraju ideje, može biti dugoročno održiv. Ukratko, zaključak je, promocija ekonomskog rasta događa se direktno kroz promo-ciju nauke. Nauka je i ranije bila posmatrana kao javno dobro, ali Romer je jasno označio nauku kao motor ekonomskog rasta i prosperiteta. Stoga, ako države žele podstaknuti rast, njihove ekonomske politike moraju ohrabriti ulaganje u istraživanje i razvoj novih ideja kao i subvencionirati akumulaciju ukupnog ljudskog kapitala na nivou države.



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:B What is the mission and activity of the Association of Banks of Montenegro?

The mission of the Association of Banks is to improve the banking operations of its members, organise and establish business cooperation with partners in the country and abroad, to represent and protect the common interests of members with the Central Bank of Montenegro, competent state bodies and organisations and international organisa-tions and institutions. We have an intensive cooperation with the European Banking Federation, the International Banking Council and the Inter-Balkan Forum, as well as with the ATTF from Luxembourg, where we send our bank-ers for training, as well as with the banking associations from the region. With regard to the cooperation within the country, we have close cooperation with the CBCG and the Ministry of Finance concerning the adoption of laws and enabling regulations in the banking area and also with all institutions depending on the need to address current issues affecting the banking operations, to name a few, the International Monetary Fund and the World Bank.

The activities of the Association include alignment of the banking practice with European Union standards, fostering good business practices and business ethics and establishing rules of business conduct of members with each other and

with third parties, education of both bankers and bring-ing banking operations closer to public opinion in order to reduce the possibility of creating negative comments, and interpretations of banking performance standards.

The business of the Association is carried out through the work of the bodies of the Association: the Assembly, the Management Board, the Secretary General, the Court of Honour and the Arbitration. Expert committees have been established as forms of organisation and work of the Association for certain areas of activity. Expert commit-tees have been formed as working and advisory bodies of the Management Board.

We are working on financial inclusion through the co-operation with domestic media. There is a great emphasis in our work on the constant training of bankers, hiring foreign lecturers through workshops and presentations of modern achievements in all segments of banking industry. In doing so, we prepare the bankers in timely manner for innovation and international standards in business. The emphasis is on trends in digitisation and cyber security, digital money, domestic and international payment sys-tem transactions, payment card operations, fraud, PSD2 standards, Basel III standard, current AQR, etc.

We are working with leading audit firms on the presentation of solutions for the implementation of international standards. For the last three years, until the outbreak of the pandemic, almost 1,000 bankers went through workshops organised by the Association. Bankers’ training is very specific, extremely expensive for local circumstances, where a two-day training in London, Vienna, Brussels, or Luxembourg cannot be below 2.5 thousand euros, so the calculation is simple, we bring first-class lecturers in cooperation with sponsors such as Finance in motion and EFSE, a German development fund and agency, but also MasterCard, as a recognizable world brand in the field of payment card operations.

:B Will banks disappear and in which direction will they develop?

For fifty years, there has been a controversy about the con-tribution of the banking system to economic development and whether the role of banks will be significantly reduced over time. The basic functions of banks are in the mediation between accumulated savings and performing payment system operations, while in developed systems you have financial derivatives and speculative transactions. In the


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area of lending, it is difficult to find an intermediary who can allocate more efficiently deferred spending and who is willing to invest for, say, 25 years, which banks do. In terms of payments, the scenario of a decline in the role of banks can occur if an intermediary enables more efficient, cheaper and more affordable payments, where FinTech and telecommunications companies have already found interest, and time will show whether they will succeed in replacing the banks. In the previous decades, the world saw many attempts of big companies with large customer bases, insur-ance companies and telecommunications companies with a turnover of billions of euros, or US dollars that thought they could replace banks in the areas lending, payment card operations and payment system transactions. In short, they gave up from independent activities, such as Marks and Spencer plc. Great Britain, Kidder Peabody, General Electric Capital in the USA, etc. Hardly any of these companies will be able to match the banks in the area concerning deposit or guarantee operations, monitoring large infrastructure projects, lending, using business techniques and technolo-gies, risk assessment, available information on the client's turnover and priorities of economic trends, risk reduction through the pool of portfolios available to banks, i.e. in the areas that have been developed for hundreds of years.

:B How to overcome the crisis?

In theory, crises in the financial sector are avoided by monetary policy, fiscal policy and the provision of optimal conditions for economic development. Monetary policy affects the cost and accessibility to loans, and with fiscal policy it shares or pursues the goals of promoting economic growth, full employment, price stability, low inflation rates, affecting credit demand and balanced trade with other countries. Through monetary policy, the Central Bank tries to regulate both interest rates and the supply of money to the economy. However, in addition to the negative effects of the recession that is part of the business cycle, and nowadays a consequence of the pandemic, the recession also serves correct the costs of production and capital goods downwards due to reduced demand. Thus, the economy is preparing for the next part of the cycle and to exit the crisis. The recession, however, is a double-edged sword, because in addition to stimulating conditions

for the renewal of the profit rate, it generally worsens the conditions for investing on the demand side. It is equally bad to have a good price and not have customers, as well as to have a lot of customers, but also high costs that do not allow for profit. In addition to reducing costs, a positive approach would be to prepare new investments necessary for the development of the country, I would emphasise, to prepare infrastructure projects.

When we talk about companies, significant changes should be made to debt structure in the area of restruc-turing, as well as strategy, operations and organisational structure, in order to achieve greater efficiency and adapt to new market conditions. However, restructuring must involve much more than restructuring of debt and capital structure, because these steps alone do not bring anything more than temporary relief, i.e. they do not solve the essential business problems, internal inefficiencies that led to the financial problems in the first place, and also external influences.

In addition to the abovementioned, Nobel laureate Paul Romer, a professor at New York University, pointed out that long-term differences in growth rates have astonishing consequences. If two economies start with the same GDP per capita, but one grows at a rate of 4 percent higher, it will become five times richer in 40 years. A more modest, 2 percent growth will double national income in 40 years.

Romer constructed a model that emphasises the cru-cial role of knowledge and ideas in economic growth. He divided the economy into two sectors, the real and the sphere of ideas, which enabled him to articulate and identify the key determinants of the return on innova-tion. The objects, physical capital in the economy are scarce and subject to the law of declining income, he concluded, while knowledge and ideas, on the other hand, are never scarce. Therefore, the accumulation of ideas, the growth that pushes ideas, can be sustainable in the long run. In short, the conclusion is, the promotion of economic growth occurs directly through the promotion of science. Science has previously been seen as a public good, but Romer has clearly labelled science as the engine of economic growth and prosperity. Therefore, if states want to stimulate growth, their economic policies must encourage investments in research and development of new ideas and subsidise the accumulation of total human capital at the level of the state.


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Ekonomska posljedica pandemije ima mnogo različitih lica. Za neke sektore, kao što su turističke agencije i trgovci, ona predstavlja izazov sa kojim se nikada prije nijesu susrijetali. Za druge predstavlja mogućnosti. Internet trgovci cvjetaju. Usluge dostave hrane na kućnu adresu rade bolje nego ikad ranije.

Za one kao što smo mi u bankar-skom sektoru, jasno je da pande-mija predstavlja izazov. Prije svega, mi želimo da pomognemo našim klijentima da ublaže probleme. U martu ove godine, kada je pande-mija nastupila, Evropska bankarska

federacija je igrala ključnu ulogu u savjetovanju regulatora i supervizora o tome kako na najbolji mogući način da promijene smjer.

Jedan od rezultata ovog angažovanja je bila povećana fleksibilnost korišće-nja zaštitnih slojeva banke. Najveće evropske banke su takođe pokazale svoju posvećenost dogovorivši se da zadrže isplate dividendi na zahtjev Evropske centralne banke. Ovo je efikasno oslobodilo blizu 30 milijardi eura kapitala koji se mogao koristiti za održavanje otpornosti u našem sektoru, kao ključnom dijelu evropske ekonomije koju finansiraju banke.

Kad se u knjigama iz istorije bude pisalo o pandemiji koja je zahvatila svijet 2020. godine, istoričari će zasigurno razmotriti način na koji je pandemija uticala na ekonomiju. Mnoga preduzeća i stanovništvo u Evropi, Crnoj Gori i ostatku svijeta bili su prisiljeni da postanu kreativni kako bi mogli da se nose sa poremećajima koji su ljude držali kod kuće, koji su držali klijente podalje od njihovih trgovina i koji su putnike udaljavali od hotela i avio kompanija.

evropske banke ostaju posvećene klijentima za vrijeme pandemije

Wim Mijs glavni izvršni direktor

Evropske bankarske federacije

BANKARSTVO U VREMENIMA KRIZE oktobar 2020 | :Bankar

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The economic fall-out of the pandemic has many different faces. For some industries, like travel companies and re-tailers, it is a challenge like one they never faced before. For others, it presents op-portunities. Online retailers are booming. Home-delivery food services are doing better than ever.

For those of us in the banking industry the pandemic clearly is a challenge. First and foremost we want to help our clients mitigate the problems. Back in March, when the pandemic first struck, the European Banking Federation was in a key role to advise regulators and supervisors on how best to change course.

One result of this engagement was in-creased flexibility in the use of bank buffers. The top European banks also demonstrated their commitment by agreeing to withhold dividend payments at the request of the European Central Bank. This effectively liberated close to 30 billion euros in capital that could be used towards maintaining resilience in our sector, a critical part of Europe’s bank-financed economy.

Another European action initiated in March was through the European Banking Authority, which gave the green light for payment moratoria across Europe. European countries all decided for themselves exactly how to use this option for the benefit of

Wim Mijs, Chief Executive Officer of the European Banking Federation

When the history books will write about the pandemic that gripped the world in 2020 the historians will certainly consider the way it impacted the economy. Many business and households in Europe, in Montenegro and in the rest of the world area were forced to be creative so they could deal with the disruption that kept people at home, that kept customers away from their stores and that kept travellers away from hotels and airlines.

european banks remain committed to clients during the pandemic

BANKING INDUSTRY IN TIMES OF CRISISoctober 2020 | :Bankar13

Još jedna aktivnost koja je počela u martu ove godine u Evropi bila je uz pomoć Evropskog bankarskog regulatora, koji je dao odobrenje za moratorijum na plaćanja u Evropi. Evropske države članice su same odlučile kako da iskoriste ovu mogućnost u korist zajmodavaca u svojim državama, kao dio paketa nacio-nalnih mjera podrške kompanijama. Za mnoge kompanije ovo je bio važan spas. Statistike stečajnih postupaka u nekim državama članicama EU pokazuju da je to promijenilo situaciju. Manje kompanija propada nego što je normalno. Francuska, Njemačka i Ujedinjeno Kraljevstvo ovog su proljeća izvijestile o nekoliko bankrota. U Holandiji - mojoj matičnoj zemlji - broj bankrota u avgustu bio je najmanji u posljednjih 21 godinu.

Nije jasno da li je ova situacija odr-živa ili ne kad isteknu moratorijumi. Sljedećih mjeseci će se opet otpočeti sa otplatom kredita u mnogim evropskim državama. Čim prođe 90 dana, krediti odobreni kompanijama u kojima nije plaćana kamata će se klasifikovati kao nekvalitetni. Ovo za banke znači da pravi poslovni izazov tek dolazi.

Nije kao da nedostaje izazova našem sektoru. Posljedice digitalizacije u bankar-skom sektoru su jasno vidljive. Direktan

kontakt sa većinom klijenata fizičkih lica u Evropi sada se obavlja putem aplikacije na mobilnom telefonu. Filijale su sve manje potrebne, što prisiljava banke da preispituju svoje poslovne modele. Od finansijske krize 2007. godine zatvoreno je više od 65.000 filijala banaka. I taj trend se nastavlja.

Pandemija je naglasila i značaj odgova-rajućih mjera sajber bezbjednosti, kako za banke, tako i za kompanije. Budući da je rad kod kuće uobičajen, pristup sa daljine kancelarijskim mrežama putem kućnih Wifi mreža može predstavljati rizik bezbjednosti. Evropska bankarska federacija zalaže se aktivno za sajber otpornost, sarađujući u ovoj oblasti i sa ostalim zainteresovanim stranama EU u Briselu.

U kontekstu pandemije postala je jasna i važnost druge vrste otpornosti - finansijske otpornosti. Evropska bankarska federacija je u Briselu takođe poznata kao strastveni lobista za bolje finansijsko obrazovanje, za bolje programe finansijske pismenosti. Evropski kviz novca i Evropska nedjelja novca igraju glavnu ulogu u našem radu.

Ponosni smo što vidimo da se Evropski kviz novca nastavio iako su mnoge škole morale da se okrenu učenju od kuće. Internetska priroda kviza, koja koristi platformu Kahoot!, pokazala se vrlo korisnom za nastavnike u ovim izazov-nim uslovima. Odigrano je gotovo pola miliona igara, što predstavlja rekord. A zahvaljujući fleksibilnosti 25 zemalja koje su učestvovale u tome, uspjeli smo da budemo domaćin internetskog Velikog finala koje su uživo gledali hiljade mladih širom Evrope. (Iskreno se nadamo da će Crna Gora i sljedeće godine učestvovati u ovom kvizu.)

„Moratorijumi na otplatu kredita su mnoge spasili od bankrotstva. U članicama EU smanjen broj stečajeva


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lenders in their country, as part of a package of national business support measures. For many businesses this was an important life-line. Bankruptcy statistics in some EU member states show that this made a difference. Fewer companies are going bust than normal. France, Germany and the United Kingdom all reported few bankruptcies this spring. In the Netherlands - my home country - the number of bankruptcies in August was the lowest in 21 years.

It’s not sure whether this situation is sustainable or not once the moratoria run out. In the next months, the loan payments clock will start ticking again in many European countries. Once the clock reaches 90 days, business loans in which no interest is being paid will be classified as non-performing. For banks this means the real business challenge is yet to come.

It’s not as if there is a shortage of chal-lenges for our industry. The consequences of digitalisation in the banking sector are clearly visible. The direct contact of most n retail clients in Europe now is through an app on a mobile phone. Branches are needed less and less, forcing banks to review their business models. Since the 2007 financial crisis more than 65.000 bank branches have been closed. And this trend continues.

The pandemic also underlined the im-portance of proper cy-bersecurity measures, both for banks as well as businesses. With home-working being

the norm, remote access to office net-works via home-based Wifi networks may pose security risks. As EBF we are actively committed to cyber resilience, also working on this with EU stakehold-ers in Brussels.

In the context of the pandemic the importance of another type of resil-ience has also become clear: financial resilience. In Brussels the European Banking Federation also is known as a passionate lobbyist for better financial education, for better financial literacy programmes. The European Money Quiz and the European Money Week play a central role in our work.

We’re proud to see that the European Money Quiz continued even when so many schools had to resort to home-teaching. The online nature of the quiz, using the Kahoot! Platform, proved very useful for teachers under these challenging conditions. Nearly half a million games were played this, a record. And thanks to the flexibility of the 25 countries that took part this we man-aged to host an online Grand Final that was viewed live by thousands of young people across Europe. (We sincerely hope that Montenegro will participate in this quiz as well next year.)

„Payment moratoria has saved many from the bankruptcy. EU Member States recorded lower cases of bankruptcy


Na nivou politike, čini se da Evropska komisija sada prepoznaje finansijsko obrazovanje kao važan element u razvoju tržišta kapitala Unije. Logika je jasna. Ljudi u Evropi su shvatili kako mogu da profitiraju od vlasničkih ulaganja. Tržišta će biti likvidnija, a time i privlačnija. Ipak, još misionarskog posla nas čeka u godinama koje su pred nama.

Da nije bilo pandemije, očigledno bi borba protiv pranja novca bila domi-nantna u radu EU politike u Briselu ove godine. Pranje novca predstavlja pravo zlo, ne samo za banke, već i za društvo. Napokon, govorimo o novcu koji dolazi

od stvarnih zločina, trgovine ilegalnim drogama, nezakonite trgovine, pronevjere, primanja mita i od drugih aktivnosti koje potkopavaju naše demokratsko društvo. Naš sektor je uložio milijarde da odigra svoju ulogu u ovoj borbi.

Evropska bankarska federacije je obja-vila u martu ove godine nacrt za efikasan okvir EU u borbi protiv pranja novca. Podstičem sve vas da ga pročitate: Ukidanje

čarolije prljavog novca, a dostupan je na Internet stranici EBF.eu. Evropski pristup protiv pranja novca usitnjen je i podije-ljen duž nacionalnih granica, a države članice EU pozvane su da sprovode EU direktive. Tako usitnjeni pristup više ne funkcioniše. Moramo uskladiti evropski pristup kroz regulativu tako da pravila budu ista u cijeloj EU.

Takođe je potrebna tješnja saradnja javnog i privatnog sektora kao i samih banaka. Supervizori i agencije za sprovo-đenje zakona treba da se osnaže. Potrebni su im veći resursi kako bi analizirali izvještaje koje banke treba da dostave, kao i da prate te sumnjive slučajeve, ako je potrebno.

I, moramo biti pametniji. Kriminalci cijelo vrijeme transformišu i prilagođavaju svoje procese pranja novca. Upotreba kripto valuta, koje omogućavaju korisni-cima da sakriju svoj identitet, takođe treba da se riješi u okviru borbe Evropske unije protiv pranja novca. Ako nova regulativa uzima u obzir samo incidente poput onih koje su nedavno otkrili istraživački novinari, tada rizikujemo da idemo u budućnost gledajući unazad.

Svima koji danas govore o bankarstvu jedno je potpuno jasno. Kineska poslovica „Želimo vam da živite u zanimljivim vremenima“ zasigurno se može primije-niti. A još ništa nisam rekao o Bregzitu. Prepustit ću tebi, dragi moj čitaoče, da odlučiš da li je ta poslovica blagoslov ili prokletstvo. Ono što je sigurno je to da će banke širom Evrope, uključujući Crnu Goru, i dalje biti uz svoje klijente u ovim izazovnim vremenima. To je bit naše industrije.

„Da nije bilo pandemije, očigledno bi borba protiv pranja novca bila dominantna u radu EU politike u Briselu ove godine. Pranje novca predstavlja pravo zlo, ne samo za banke, već i za društvo


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On the policy level, the European Commission now seems to recognize financial education also as an important element in the development of its Capital Markets Union. The logic is clear. In a Europe were people understand how they can benefit from equity investments markets are bound to be more liquid, and therefore more attractive. That said, we still have more missionary work to do during the years ahead.

If it were not for the pandemic, this year’s EU policy work in Brussels would clearly be dominated by the fight against money laundering. It’s real scourge, not only for banks but also for society. After all, we are talking about money that comes from real crimes, illicit drugs trade, traf-ficking, embezzlement, bribes and other activities that undermine our democratic society. Our sector has invested billions to play its role in this fight.

As EBF in March we published our blueprint for an effective EU framework in the fight against money laundering. I encourage all of you to read it: Lifting the Spell of Dirty Money. You can find it on EBF.eu. Europe’s approach against

money laundering is fragmented and divided along national borders, with EU member states all invited to imple-ment EU directives. This fragmented approach no longer works. We need to harmonize the European approach through a regulation so that the rules are the same across the EU.

We also need more cooperation between the public and the private sector, and between banks themselves. The supervisors and the law enforce-ment agencies need to be empowered.

They need more resources to review the reports that banks are required to file, and to follow up on these suspicions where necessary.

And, we need to be smarter. Criminals transform and adjust their laundering processes all the time. The use of crypto currencies, which allow users to hide their identities, also needs to be ad-dressed in the EU’s AML framework. If new regulation only considers the incidents like those exposed recently by investigative journalists, then we run the risk of driving into the future while looking into the rear view mirror.

For anyone talking about banking these days one thing is totally clear. The Chinese expression ‘May you live in interesting times’ certainly is applicable. And I even have not addressed Brexit yet. I will leave it up you, my dear reader, to decide whether this expression is a blessing or a curse. What is certain is that banks across Europe, including Montenegro, will continue to stand with their clients in these challenging times. That is the essence of our industry.

„If it were not for the pandemic, this year’s EU policy work in Brussels would clearly be dominated by the fight against money laundering. It’s real scourge, not only for banks but also for society


Posvećenost regionu Zapadnog Balkana u periodu od preko 40 godina ogleda se u kilometrima novih izgrađenih puteva, preko pola miliona zadržanih rad-nih mjesta, više od 20 obnovljenih i modernizovanih bolnica i stotine škola. Kao najveći međunarodni zajmodavac u regionu, Evropska investiciona banka uložila je preko osam milijardi eura samo u posled-njoj deceniji. A to je samo vrh ledenog brijega, jer će razorni učinci pandemije covid-19 zahtijevati još više posvećenosti, zajedničkih napora svih institucija Evropske unije i ustrajnost na putu do oporavka ekonomije i prosperiteta za sve građane u regionu. Kao i u slučaju prethodnih kriza, EIB će i dalje biti pouzdan partner u regionu podržavajući ekonomski oporavak, otvaranje novih radnih mjesta, digitalnu i zelenu tranziciju i obnovu vitalne infrastrukture.

Ova uspješna saradnja započela je krajem 70-ih godina prošlog vijeka kada je EIB finansirala izgradnju trans jugoslovenskog autoputa poznatog pod nazivom „Put bratstva i jedinstva“, koji ostaje simbol jednog doba kada su ljudi sa prostora Zapadnog Balkana dijelili

iste nade i snove. Danas se izgrađuju dionice novog, modernog autoputa, ponovo povezujući privredne i društvene veze. Sa 2,8 milijardi eura uloženih u sektor saobraćaja Zapadnog Balkana u

posljednjoj deceniji, EIB pozdravlja nove mogućnosti koje stvara. Svaka dionica, svaki izgrađeni tunel i most stvaraju uslove za bržu razmjenu, ekonomski razvoj i otvaranje novih radnih mjesta. Novi autoputevi visokih performansi dovode do značajnog smanjenja vremena putovanja, troškova rada vozila i učestalosti saobraćajnih nesreća.

izgradnja puTeva ponovo povezuje ljude u regionu

Evropska investiciona banka je u avgustu 2020. godine oslobodila dodatnih 40 miliona eura za obnovu 180 km puta duž pet glavnih pravaca u Crnoj Gori, što je dopunjeno podrškom Inicijative za ekonomsku otpor-nost (ERI) u okviru koje su obezbijeđena bespovratna sredstva u iznosu od 1,5 miliona eura. Tom prilikom, potpredsjednik EIB-a Dario Scannapieco je rekao: „Revitalizacija saobraćajne infrastrukture i dalje je vrlo važna za nesmetanu trgovinu, zapošljavanje i cjelokupni ekonomski oporavak Zapadnog Balkana.

eiB – četiri decenije podrške zapadnom BalkanuTekst pripremila Evropska investiciona banka

„Kao najveći međunarodni zajmodavac u regionu, Evropska investiciona banka uložila je preko osam milijardi eura samo u poslednjoj deceniji

RAZVOJNI PROJEKTI EVROPSKE INVESTICIONE BANKE U REGIONU oktobar 2020 | :Bankar

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eiB – Four decades of support to the Western Balkan region

Over 40-year long dedication to the Western Balkan region has seen its manifestation in kilometers of new roads built, over half million jobs retained, more than 20 hospitals and hundreds of schools refurbished and modernized. As the larg-est international lender in the region, the European Investment Bank unlocked over €8 billion in the last decade alone. And this is just a tip of the iceberg, as devastating effects of covid-19 pandemic will require even more dedication, joint efforts of all EU institutions and perseverance on the road to economy rebound and prosperity for all citizens in the region. As the case with previous crises, the EIB will continue to be a reliable partner for the region supporting economic recovery, job creation, digital and green transition, and rebuilding of vital infrastructure.

This successful cooperation started in late 70s when the EIB financed construction of Trans Yugoslav high-way known as ‘Brotherhood and Unity route’, which remains a symbol of an era where Western Balkan people shared the same hopes and dreams. Nowadays,

sections of a new, modern highway are being built, reconnecting the economic and social ties. With €2.8 billion invested in transportation sector of the Western Balkan in the last decade, the EIB is welcoming new opportunities it generates. Each section, each tunnel and bridge constructed creates conditions for faster exchange, economic development and creation of a new jobs. New, high-performance motorways lead to significant decrease in travel time, vehicle operating costs and frequency of road accidents.

Building roads reconnecTs people across region

In August 2020, the EIB has unlocked another €40 million for the rehabilitation of 180 kilometres of road along the five main routes in Montenegro, comple-mented by a €1.5 million grant awarded under the Economic Resilience Initiative (ERI). On this occa-sion, EIB Vice-President Dario Scannapieco said: “Revitalisation of the transport infrastructure remains highly important for smoother trade, employment and the overall economic recovery of the Western Balkans. Improved capacity of the local economies to absorb and respond to crises creates an environment

Author: European Investment Bank

„As the largest international lender in the region, the European Investment Bank unlocked over €8 billion in the last decade alone

DEVELOPMENT PROJECTS OF THE EUROPEAN INVESTMENT BANK IN THE REGIONoctober 2020 | :Bankar19

Poboljšani kapacitet lokalnih ekonomija da apsorbuju i odgovore na krize stvara okruženje za ekonomski rast i otvaranje novih radnih mjesta. Obnavljanjem jedne četvrtine cjelokupne državne putne mreže u Crnoj Gori, želimo da podržimo regionalnu poveza-nost i ojačamo integraciju između zemalja zapadnog Balkana i EU. Pristup sigurnim i modernim putevima ne bi trebalo da bude privilegija, već nužnost svih u našim naporima prema povećanoj konkurentnosti, održivosti i bržem pristupanju EU.”

Izgradnja auto-puta na Koridoru X pomogla je Srbiji da se vrati na evropske mape puteva. Bolje saobraćajne veze su uspostavljene između Srbije i Bugarske, Srbije i Sjeverne Makedonije, a samim tim i zapadnog Balkana prema Evropskoj uniji. Ovo je najveće i najambicioznije ulaganje EIB-a u javnom sektoru u Srbiji od 1977. godine „teško“ 579 miliona eura.

Koridor Vc u Bosni i Hercegovini pokazao se jed-nako izazovnim i ambicioznim projektom. Uloživši 631 milion eura u ovaj važan Panevropski koridor, EIB je doprinijela boljoj povezanosti između BiH i Mađarske, istočne Hrvatske i Jadranskog mora. Ovo ulaganje dio je Agende povezivanja EU, koja je obezbijedila preko 200 miliona eura bespovratnih sredstava za podršku bržoj realizaciji projekta. Čak i za vrijeme pandemije izazvane virusom covid-19, građevinski radovi su napredovali zahvaljujući zaštitnoj opremi, bezbjedonosnim protokolima uvedenim za radove na licu mjesta.

Foto: Dionica Svilaj-Odžak na Koridoru Vc

Novi auto-put koji povezuje Niš sa Merdareom poznat kao Auto-put mira takođe je još jedno pri-oritetno ulaganje u regionu. Ulaganje EIB-a od 100 miliona eura dopunjeno je sa bespovratnim sredstvima EU u iznosu od 48 miliona eura usmjerenim kroz Investicioni okvir za Zapadni Balkan (WBIF). Ovaj auto-put ima širi geopolitički značaj jer povezuje Srbiju sa albanskim lukama na Jadranskom moru i povećava saradnju i ekonomsku razmjenu između naroda Srbije i Kosova*.

crnogorske željeznice oBnavljaju svoj sjaj iz preThodnog perioda

Pored finansiranja obnove puteva u regionu, EIB strateški podržava obnovu nacionalnih i regionalnih željeznica u skladu sa Agendom povezivanja EU. Projekat koji izaziva jugoslovensku nostalgiju je želje-znička dionica duž pruge Bar-Podgorica-Vrbica koja prolazi kroz Crnu Goru. Kad je otvoren davne 1976. godine, bio je to najveći infrastrukturni projekt u bivšoj

„Evropska investiciona banka je u avgustu 2020. godine oslobodila dodatnih 40 miliona eura za obnovu 180 km puta duž pet glavnih pravaca u Crnoj Gori


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jugoslovenskoj federaciji i, u to vrijeme, predstavljao je modernu željeznicu koja je obezbjeđivala udobno prevozno sredstvo za najviše rangirane domaće i međunarodne zvaničnike. Decenijama je bila na putu da padne u zaborav zbog zastarjele infrastrukture i lošeg održavanja.

Ova važna dionica će ponovo oživjeti uz kredit od 20 miliona eura koji je odobrila Evropska inve-sticiona banka i bespovratna sredstva u iznosu od 20 miliona eura koje je obezbijedila Evropska unija. Rekonstrukcijom ključnih padina, 106 mostova i tunela i uvođenjem novog vrhunskog sistema signalizacije na željezničkoj stanici u Podgorici, region će imati koristi od brže, sigurnije i jasnije saobraćajne veze koja podržava turizam i ekonomsku razmjenu.

„Projekat će stvoriti 1.000 radnih mjesta u Crnoj Gori za vrijeme popravki. Takođe će poboljšati trgovinske veze, prije svega sa Srbijom i Rumunijom, i pomoći turizmu”, kaže Dubravka Negre, šefica predstavništva EIB-a za Zapadni Balkan. "Nova pruga će pomoći da se proširi Luka Bar, koja očekuje da će se trgovina povećati sa sadašnjih 1,2 miliona tona na preko 2 miliona tona u narednim godinama", dodala je.

Željeznička pruga Bar-Vrbnica

Još jedan važan projekt je rekonstrukcija 96 km duge željezničke pruge između Niša i Dimitovgrada, uključujući izgradnju željezničke obilaznice oko Niša u Srbiji. EIB očekuje da će, uz ulaganje u iznosu od 134 miliona eura i uz bespovratna sredstva u iznosu od 73 miliona eura, pomoći u poboljšanju željezničke bezbjednosti i infrastrukture, što će dovesti do bržeg regionalnog ekonomskog razvoja i protoka trgovine. Ova rekonstrukcija će doprinijeti modalnom prelasku sa puta na željeznicu, kao ekološkijem, pouzdanijem i sigurnijem transportnom sistemu.

osviT digiTalnog doBa

Pored davanja podrške sektoru saobraćaja, podrška povezivanja Zapadnog Balkana ulaganjem u digitalnu i energetsku infrastrukturu i dalje će biti prioritet Evropske investicione banke. Od početka pandemije COVID-19, digitalne tehnologije preuzele su glavnu ulogu u održavanju društvenih i poslovnih aktivnosti među ljudima širom svijeta. Ogroman uticaj koji je nametnut našim životima i ekonomskom oporavku doveo je do novog, digitalnog doba, koje preoblikuje naše razumijevanje društvene i poslovne prakse.

EIB će podržati digitalnu transformaciju regiona u skladu sa Digitalnom agendom EU u pravcu stvaranja inkluzivnog, fleksibilnog i održivog tržišta. Jedan od projekata uključuje razvoj širokopojasne infrastrukture u Albaniji koja će pružiti bolju internetsku vezu za 500 zdravstvenih ustanova, 3.000 obrazovnih ustanova i 70% stanovništva. Ove vrste projekata razmatraju se i za neke druge zemlje u regionu.

„Nova pruga će pomoći da se proširi Luka Bar, koja očekuje da će se trgovina povećati sa sadašnjih 1,2 miliona tona na preko 2 miliona tona u narednim godinama

„EIB će podržati digitalnu transformaciju regiona u skladu sa Digitalnom agendom EU u pravcu stvaranja inkluzivnog, fleksibilnog i održivog tržišta


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for economic growth and job creation. By rehabilitat-ing one quarter of the entire national road network in Montenegro, we aim to support regional connectivity and reinforce integration between the Western Balkan countries and the EU. Access to safe and modern roads should not be a privilege, but a necessity for all in our efforts towards increased competitiveness, sustainability and faster EU accession.”

Construction of highway on Corridor X helped Serbia get back on the European road maps. Better transport links were established between Serbia and Bulgaria, Serbia and North Macedonia, and, con-sequently Western Balkan to EU. This is the largest public sector investment of EIB in Serbia since 1977 accounting to €579 million, and the most ambitious as well.

Corridor Vc in Bosnia and Herzegovina proved to be equally challenging and ambitious project. By investing €631 million in this important Pan-European Corridor, the EIB contributed to better connectivity between BiH and Hungary, eastern Croatia and the Adriatic Sea. This investment is a part of the EU’s Connectivity Agenda that provided over €200 million in grants to support faster realization of the project. Even during the covid-19 pandemic, the construction works progressed thanks to protective equipment, safety protocols introduced for on-site works.

Photo: Svilaj-Odzak section on Corridor Vc

A new highway linking Nis to Merdare known as the Highway of Peace is also another priority investment in the region. The EIB’s €100 million investment is complemented with €48 million EU grant channelled through the Western Balkan Investment Framework (WBIF). This road has a wider geopolitical impor-tance as it connects Serbia with Albanian ports on the Adriatic Sea and increases cooperation and economic exchange between people of Serbia and Kosovo*.

MonTenegrin railWays resToring TheIr pasT splendour

Apart from financing rehabilitation of roads across the region, the EIB is strategically supporting upgrade of national and regional railway networks under the EU Connectivity Agenda. The project that evokes Yugoslavian nostalgia is the railway section along Bar-Podgorica-Vrbica line crossing Montenegro. When it was opened back in 1976, it was the largest infrastructure project in the former Yugoslav federa-tion and, at the time, state-of-the art railroad that provided comfortable means of transport for the highest-ranking local and foreign countries ’officials. For decades, it has been on its way to fall into oblivion due to outdated infrastructure and poor maintenance.

With €20 million loan from EIB and €20 million grant provided by the EU, this important section will be revived. By reconstructing key slopes, 106 bridges and tunnels and introducing a new state-of-the art signalling system in Podgorica railway station, a region will benefit from faster, safer and clear transportation link supporting tourism and economic exchange. “The project will create 1 000 jobs in Montenegro during the repairs. It will also improve trade links, primarily with Serbia and Romania, and help tour-ism”, says Dubravka Negre, Head of Representative Office of the EIB for the Western Balkan. “The new

„In August 2020, the EIB has unlocked another €40 million for the rehabilitation of 180 kilometres of road along the five main routes in Montenegro


sigurnija i raznovrsnija energeTska sTrukTura

Kao vodeći finansijer klimatskih projekata, EIB je u stanju da podrži bez izuzetka sve zemlje Zapadnog Balkana u tranziciji ka održivoj ekonomiji i čistijim, sigurnijim, obnovljivim i efikasnijim energetskim rješenjima. Opsežna finansijska i tehnička podrška biće potrebna za sprovođenje ove izazovne inicijative, a EIB je izrazio spremnost da mobiliše značajna sredstva u narednoj deceniji. Uz to, EIB će pružiti tehničku pomoć i bespovratna ulaganja za razvoj energetski efikasnih projekata i projekata obnovljivih izvora energije u regionu. Ove inicijative već su dovele do davanja odobrenja za prvu investiciju tokom 2020. godine, kada se očekuje da će EIB potpisati zajam za projekat obnovljive energije u Bosni i Hercegovini.

Ove aktivnosti u skladu su sa nedavno usvojenom politikom energetskog kreditiranja, čime je EIB postala prva banka širom svijeta koja se izjasnila protiv finasiranja projekata fosilnih goriva u korist pouzdane, nisko-ugljenične i obnovljive energije. Postizanjem ambicioznih klimatskih i energetskih ciljeva, EU Banka želi da podrži smanjenje štetnih emisija u vazduhu i poboljša pristup modernoj, pri-stupačnoj i raznolikoj energetskoj strukturi u regionu. Jedan od najvećih energetskih projekata koji će se sprovesti 2021. godine je izgradnja interkonekcije za prirodan gas između Grčke i Sjeverne Makedonije, koja će obezbijediti sigurno i pouzdano snabdijevanje energijom za generacije koje dolaze.

Ovo je naročito značajno u kontekstu krize koju je uzrokovala pandemija COVID-19, jer stvaranje održive ekonomije, sigurnijih energetskih rješenja, poboljšane infrastrukture protiv poplava i prirodnih nepogoda povećava spremnost za buduće opasnosti.

nepokoleBljiva podrška oporavku od covid-19

Od početka pandemije bilo je očigledno da će soci-jalne i ekonomske posljedice biti dalekosežne. Zbog toga su EIB i institucije EU započele pripremu niza mjera kao odgovor na krizu uzrokovanu pandemijom COVID-19 kako bi se dugoročno ublažile neposredne negativne posljedice i povećala otpornost na buduće krize. Zajedno sa „Timom Evropa“, Banka je usvojila finansijski paket od 1,7 milijardi eura kako bi pomogla

zemljama zapadnog Balkana da riješe najhitnije defi-cite u zdravstvu i sektoru malih i srednjih preduzeća. Ta sredstva su zajednički mobilizovana u okviru finansijskog paketa Evropske komisije u iznosu od 3,3 milijarde eura namijenjenog građanima iz ovog regiona, nakon dogovora postignutog na sastanku lidera Svjetske banke održanom u aprilu.

Pored ove neposredne podrške, EIB je stvorio portfolio projekata koji se procjenjuju na 2,3 milijarde eura koji će pomoći reformi zdravstvenog sektora u regionu, poboljšanju vitalne infrastrukture i eko-nomskom oporavku. Ova ulaganja stvoriće otporniji zdravstveni i privatni sektor koji će moći da reaguju efikasnije na potencijalne nove opasnosti.

“Uprkos ogromnim izazovima koje je stvorila kriza COVID-19 unutar same EU, Evropska unija je pokazala svoju nepokolebljivu podršku partnerskim zemljama i posvećenost međunarodnoj saradnji i koordinaciji. Neizmjerne potrebe u regionu mogu se riješiti samo timskim radom i EIB se raduje do-prinosu Investicionom okviru za Zapadni Balkan i predstojećem Ekonomskom i investicionom planu za oporavak”, izjavio je Werner Hoyer, predsjednik EIB-a.

Kako bi ubrzala isplatu raspoloživih sredstava, EIB će odobriti fleksibilnije uslove za zdravstvo i privatni sektor. Prošireni uslovi primjerenosti primjenjivaće se na projekte zdravstvene i civilne zaštite u skladu sa nacionalnim strategijama za pripravnost za pande-miju i hitne slučajeve. Ovo će omogućiti prenamjenu postojećih zajmova i brzu isplatu i potpisivanje. Za razvoj novih investicionih strategija za podršku zdravstvu i ekonomskom oporavku, EIB će svoje široko stručno znanje staviti na raspolaganje svojim lokalnim partnerima.


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railway will help the expansion of Bar harbour, which expects trade to increase from the current 1.2 million tonnes to over 2 million tonnes in the coming years”, she added.

Bar-Vrbnica rail line

Another important project is the reconstruction of 96km-long railway line between Nis and Dimitovgrad, including construction of railway by-pass around Nis in Serbia. With €134 million investment com-plemented with €73 million grant, the EIB expects to help improving railway safety and infrastructure which will lead to faster regional economic develop-ment and trade flow. It will contribute to the modal shift from road to rail, as more ecological, reliable and safer transportation system.

a daWn oF digiTal era

Apart from transportation sector, supporting con-nectivity of the Western Balkan by investing in digital and energy infrastructure will continue to be the priority for EIB. Since the onset of COVID-19 pan-demic, digital technologies undertook a major role in maintaining the social and business activities among people world over. The immense impact it imposed on our lives and economic recovery, led to rise a new, digital era, which is reshaping our understanding of social and business practices.

The EIB will support digital transformation of the region under the EU Digital Agenda towards creating inclusive, resilient and sustainable market. One of the project includes development of the broadband

infrastructure in Albania that is to provide better internet connection to 500 healthcare, 3000 educa-tional facilities and 70% of households. These kind of projects are considered for some other countries in the region as well.

saFer and More diverse energy Mix

As the leading financier of the climate projects, the EIB is in a position to support all Western Balkan coun-tries without an exception to make transition towards sustainable economy and cleaner, safer, renewable and more efficient energy solutions. Implementation of this challenging initiative will require extensive financial and technical support and the EIB expressed readiness to mobilize significant funds in a decade to come. In addition, it will provide technical assistance and investment grants for development of energy ef-ficient and renewable energy projects in the region. These initiatives have already resulted in approval of the first investment during 2020, when it is expected that EIB will sign a loan for renewable energy project in Bosnia and Herzegovina.

These activities are in line with the recently adopted Energy Lending Policy, making the EIB the first bank world-wide to declare against financing fos-sil fuel projects in favor of reliable, low-carbon and

„The new railway will help the expansion of Bar harbour, which expects trade to increase from the current 1.2 million tonnes to over 2 million tonnes in the coming years

„The EIB will support digital transformation of the region under the EU Digital Agenda towards creating inclusive, resilient and sustainable market


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renewable energy. By delivering ambitious climate and energy targets, the EU Bank wishes to support reduction of harmful air emissions and improve ac-cess to modern, affordable and diverse energy mix in the region. One of the largest energy projects to be implemented in 2021 is the construction of Gas interconnector between Greece and North Macedonia, which is going to provide secure and reliable energy supply for generations to come.

This is especially significant in the context of COVID-19 crisis as creating sustainable economy, safer energy solutions, improved infrastructure against floods and natural disasters increases preparedness towards future emergencies.

unWavering supporT To covid-19 recovery

Since the start of the pandemics, it was evident that social and economic consequences will be far-reaching. That is why the EIB and EU institutions started prepar-ing a set of COVID-19 response measures to alleviate immediate negative effects and increase resilience to future crises in a longer term. Together with the Team Europe, the bank adopted €1.7 billion financial package to help Western Balkan countries address the most urgent deficits in healthcare and SME sector. These funds were mobilized jointly within the European Commission €3.3 billion financial package dedicated to citizens from this region, following the agreement made on the WB leaders meeting held in April.

Beside this immediate support, the EIB has created a portfolio of projects estimated to €2.3 billion that will help reforming the healthcare sectors in the region, improving the vital infrastructure and recovering the

economy. These investments will create more resilient healthcare and private sector, able to react to potential new emergencies more efficiently.

“Despite the immense challenges created by the COVID-19 crisis within the EU itself, the Union has shown its unwavering support for its partner coun-tries and its commitment to international coopera-tion and coordination. The immense needs in the region can only be addressed by a team effort and EIB looks forward to contributing to the Western Balkans Investment Framework and the forthcoming Economic and Investment Plan for Recovery”, stated Werner Hoyer, President of the EIB.

As to accelerate disbursement of the funds avail-able, the EIB will approve more flexible terms for the healthcare and private sectors. Extend eligibilities will be applicable for healthcare and civil protection projects in line with national strategies for Pandemic and Emergency Preparedness. It will allow repurpos-ing of existing loans, and prompt its disbursement and signatures. For development of new investment strategies to support healthcare and economy recovery, the EIB will put its extensive expertise at disposal to its local partners.

FavoraBle crediT lines For MonTenegrIn enTerprIses

Small and medium-sized enterprises employ between 60-80% of the active population in the Western Balkans and they are the pillar of economic growth and job creation. During the course of crisis, they were the hardest hit, particularly tourism that is the key industry in some countries in the region.

From the €1.7 billion EIB financial support for COVID-19 recovery in the Western Balkans, €400

„Together with the Team Europe, the bank adopted €1.7 billion financial package to help Western Balkan countries address the most urgent deficits in healthcare and SME sector

DEVELOPMENT PROJECTS OF THE EUROPEAN INVESTMENT BANK IN THE REGION

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october 2020 | :Bankar27

povoljne krediTne linije za crnogorske koMpanije

Mala i srednja preduzeća zapošljavaju oko 60-80% ak-tivno radnog stanovništva u zemljama zapadnog Balkana i predstavljaju stub ekonomskog rasta i stvaranja novih radnih mjesta. Tokom krize, oni su bili najviše pogođeni, naročito sektor turizma koji predstavlja ključnu granu u nekim državama u regionu.

Od 1,7 milijardi eura finansijske pomoći EIB-a za opo-ravak COVID-19 na zapadnom Balkanu, 400 miliona eura namijenjeno je privatnom sektoru. Na ovaj način, EU Banka želi da pomogne malim i srednjim preduzećima i srednjim kompanijama da zadrže radna mjesta i sačuvaju dovoljno likvidnosti, kao i sposobnost za preduzimanje novih kapitalnih ulaganja u budućnosti.

Pored toga, EU Banka će pojačati finansiranje za mala i srednja preduzeća nudeći čitav niz proizvoda i usluga (zajmovi i savjetodavne usluge). Sredstva EIB-a biće dostupna putem nacionalnih promotivnih i privatnih komercijalnih banaka koje će ta sredstva pozajmljivatii kompanijama putem povoljnih kreditnih linija.

Podržavanje razvoja bankarskog sektora u regionu i stvaranje mogućnosti za zapošljavanje mladih, predu-zetništvo, inovacije i socijalna inkluzija i dalje će biti u

fokusu EU Banke. Kada je riječ o Crnoj Gori, od 2009. godine do danas, EIB je uložila 560 miliona eura u mala i srednja preduzeća, pomažući da se održi 31.500 radnih mjesta. Ove godine, EIB je već potpisala kredit od 30 miliona eura sa Erste bankom Podgorica za podršku kompanijama putem linija za obrtni kapital i investicionih kredita. Ova kreditna linija namijenjena je kompanijama koje posluju u turizmu, proizvodnji i uslugama (među najteže pogođenim krizom koju je prouzrokovala pan-demija COVID-19).

“Kao član 'Tima Evrope', EIB je odobrila paket nepo-sredne podrške crnogorskoj ekonomiji u iznosu od 30 miliona eura u trenutku kada je takva podrška ključna za suočavanje sa izazovima koje donosi pandemija Covid-19. Kao jednom od najvećih stranih investitora u Crnoj Gori, drago nam je što naše partnerstvo sa Erste bankom Podgorica podstiče lokalno poslovanje pomažući im da sačuvaju radna mjesta i zadovolje neposredne potrebe za likvidnošću“, objasnio je Matteo Rivellini, šef poslova kreditiranja EIB za Hrvatsku, Sloveniju i zapadni Balkan.

Pored pružanja podrške putem komercijalnih banaka, EIB je u septembru potpisala novi kredit od 50 miliona eura sa Investciono razvojnim fondom Crne Gore (IRF) za crnogorska mala i srednja preduzeća i srednje kompanije kao dio programa podrške „Tima Evropa“ za oporavak od panedmije COVID-19. Ova dodatna linija finansi-ranja pružiće crnogorskim kompanijama pristupačna finansijska sredstva za prevladavanje uticaja pandemije Covid-19, podržaće njihov oporavak, i pomoći kontinu-itetu poslovanja i održavanju zaposlenja.

Bolja zdravsTvena zašTiTa prisTupačna sviMa

Pandemija COVID-19 stavila je u fokus pitanje zdrav-stvenih kapaciteta na globalnom nivou. Pravovremeni pristup efikasnoj zdravstvenoj zaštiti postao je presudan za spašavanje ljudskih života. EIB će nastaviti da ulagaže u modernizaciju i poboljšanje sektora javnog zdravstva širom zapadnog Balkana. Cilj je da se obezbijedi jednak pristup svih građana visokokvalitetnim medicinskim uslugama i veća spremnost za buduće hitne slučajeve.

Kao dio paketa podrške odgovora na COVID-19, zna-čajna sredstva posvećena su zdravstvenim sistemima u regionu kako bi se nadoknadili najhitniji deficiti i gubici. Osim toga, EIB započinje sa razvojem novih projekata za poboljšanje medicinske infrastrukture u regionu i oni su trenutno na procjeni. Očekuje se da će ova investicija

„Zajedno sa „Timom Evropa“, Banka je usvojila finansijski paket od 1,7 milijardi eura kako bi pomogla zemljama zapadnog Balkana da riješe najhitnije deficite u zdravstvu i sektoru malih i srednjih preduzeća

„Dugoročna investiciona strategija EIB-a za sprečavanje prirodnih nepogoda, ekonomski oporavak, reformu zdravstvenog sistema stvoriće put za veći prosperitet i bolje uslove života za građane Zapadnog Balkana


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million has been earmarked for the private sector. In this way, the EU bank aims to help small and me-dium companies (SMEs) and Mid-sized companies (MidCaps) retain jobs and preserve enough liquidity, as well as the ability to undertake new capital invest-ments in the future.

Moreover, the EU Bank will boost its financing for SMEs by offering the full-range of products and services (loans, and advisory services). The EIB funds will be available through national promotional and private commercial banks that will on-lend these funds to companies via affordable credit lines.

Supporting development of the banking sector in the region and creating opportunities for youth em-ployment, entrepreneurship, innovation and social inclusion will continue to be EU Bank’s focus.When it comes to Montenegro, from 2009 to date, the EIB invested €560 million into Montenegrin SMEs, help-

ing sustain 31 500 jobs. This year, the EIB has already signed a €30 million loan with Erste Bank Podgorica to support companies through working capital lines and investment loans. This credit line is dedicated to businesses operating in tourism, manufacturing and services,(among the hardest hit by the COVID-19).

“As a member of Team Europe, the EIB unlocked a €30 million immediate support package for the Montenegrin economy at time when such support is key for tackling challenges brought by the Covid-19 pandemic. As one of the major foreign investors in Montenegro, we are glad our partnership with Erste Bank Podgorica is fostering local businesses by helping

them to preserve jobs and meet their immediate liquidity needs” - explained Matteo Rivellini, Head of EIB Lending Operations in Croatia, Slovenia and Western Balkans.

In addition to the support through commercial banks, in September the EIB signed a new €50 million loan with the Montenegrin Investment and Development Fund (IDF) for Montenegrin SMEs and Mid-Caps as part of the Team Europe Western Balkans COVID-19 recovery support programme. This additional funding line will provide affordable funding to Montenegrin companies to weather the impact of the Covid-19 pandemic, support their recovery, help business continuity and sustain employment.

BeTTer healTh care accessiBle To all

COVID-19 pandemic set the issue of healthcare ca-pacities in the focus on the global scale. Timely access to effective healthcare became vital to saving human lives. The EIB will continue investing in modernization and improvement of the public health sectors across the Western Balkan. That is to provide equal access for all citizens to high-quality medical services and higher preparedness to future emergencies.

As part of COVID-19 response package, significant funds were dedicated to healthcare systems in the re-gion to compensate the most urgent deficits and losses. Apart from that, the EIB has starting developing new projects for improving medical infrastructure in the region and they are currently under appraisal. These investment are expected to transform national health systems into modern, integrated and more resilient to future crises, in line with the best EU standards. The EIB funds will be accompanied with technical as-sistance and EU grants channelled through the WBIF.

New projects are based on EIB’s track record of investments into healthcare sector that made sig-nificant contribution to better preparedness to cur-rent pandemic. These include over €200 million invested into redevelopment and extension of clinical centres in Serbia and refurbishing of 20 hospitals. Additional €200 million was unlocked for the upgrade of research facilities and scientific infrastructure. The Bank supported refurbishing and equipping of the Clinical Centre in Banja Luka and construction

„EIB long-term investment strategies for natural disasters prevention, economic recovery, healthcare system reform will create path for higher prosperity and better living conditions for citizens of the Western Balkans


transformisati nacionalne zdravstvene sisteme u mo-derne, integrisane sisteme otpornije na buduće krize, u skladu sa najboljim standardima EU. Sredstva EIB-a će pratiti tehnička pomoć i bespovratna sredstva EU koja se usmjeravaju putem WBIF-a.

Novi projekti se zasnivaju na evidenciji EIB o ulaga-njima u sektor zdravstva koji je značajno doprinio boljoj pripremljenosti za trenutnu pandemiju. Oni uključuju ulaganja u iznosu od preko 200 miliona euroa u ponovni razvoj i proširenje kliničkih centara u Srbiji i renoviranje 20 bolnica. Dodatnih 200 miliona eura odobreno je za poboljšanje centara za istraživanje i naučne infrastrukture. Banka je podržala opremanje i renoviranje Kliničkog centra u Banja Luci i izgradnju nove bolnice u Bijeljini u iznosu od 115 miliona eura. Neke od ovih institucija igrale su ključnu ulogu u borbi protiv pandemije liječeći inficirane pacijente i spašavajući mnoge ljudske živote.

eiB kao sTraTeški parTner crne gore

EU Banka je aktivna u Crnoj Gori od 1977. godine, pri čemu je odobrila 890 miliona eura koji su uglavnom ula-gani u mala i srednja preduzeća, obrazovnu i saobraćajnu infrastrukturu. Samo u 2019. godini, EIB je odobrila 141 milion eura za podršku malim i srednjim preduzećima i izgradnju obrazovnih ustanova širom zemlje.

Obrazovanje je važan sektor za EIB u Crnoj Gori. Učestvujući u Programu unapređenja crnogorskog obrazovanja, EIB je pomogala da se izgradi, renovira i opremi 17 obrazovnih ustanova, što je dovelo do proši-renja kapaciteta za dodatnih 2.070 mjesta i kreiranja 530 novih radnih mjesta.

U oblasti vodovodnog i kanalizacionog sistema, EIB je do danas uložila gotovo 70 miliona eura, pružajući stanovništvu širom Crne Gore bolje sanitarne uslove i kvalitetnu pijaću vodu. Ova vrsta ekoloških projekata povećava otpornost i na pandemije.

Ukupno finansiranje EIB u Crnoj Gori po sektorima (od početka poslovanja)

Ulaganje u obnavljanje putne i željezničke infrastrukture, oporavak malih i srednjih preduzeća, obrazovanje, poboljšanje vodovod-nih i sanitarnih sistema i jačanje ustanova za zdravstvenu zaštitu će i dalje biti fokus EIB-a za Crnu Goru. Neki od ovih projekata su već odobreni, pa se početak njihovog sprovođenja može očekivati ubrzo.

preMa InTegrIsanoM, dIgITalnoM i održivoM TržišTu

EIB će podstaći povezanost regiona ulaganjem u iz-gradnju bolje saobraćajne, energetske i digitalne mreže, kao preduslova za nesmetan trgovinski tok i ekonomski prosperitet. Integrisani region Zapadnog Balkana sa povezanim, digitalnim i održivim tržištem ubrzaće pri-stupanje Evropskoj uniji i pomoći zemljama regiona da pronađu svoje mjesto u novoj ekonomskoj tranziciji nakon pandemije COVID-19. Preseljenje proizvodnje i lanaca tražnje u zemlje okruženja i unutar regiona pojaviće se kao novi tržišni trend u narednoj deceniji. Evropska unija će podržati aktivnosti na stvaranju integrisanog evropskog tržišta, a zemlje Zapadnog Balkana trebale bi da potraže svoje razvojne mogućnosti u tom smjeru.

Da bi se to postiglo, treba uložiti sve napore za podršku socio-ekonomskom oporavku, a EIB će i dalje obezbjeđivati finansiranje malim i srednjim preduzećima, zdravstvenim sistemima, vitalnoj i infrastrukturi za zaštitu životne sredine. Jačanje svih ovih sektora poboljšava sposobnost zemlje da se nosi sa budućim krizama i podstakne otva-ranje novih radnih mjesta, inovacije, digitalizaciju, čista energetska rješenja i bolju povezanost među ljudima na Zapadnom Balkanu.

EIB ostaje pouzdan i efikasan partner regionu u davanju podrške kada je ona najpotrebnija. To je bio slučaj nakon izuzetno jake kišne sezone i poplava koje su zadesile Crnu Goru 2010. godine, što je izazvalo ozbiljne štete na infrastrukturi, kao i nakon prethodne ekonomske recesije 2008. godine. Dugoročna investiciona strategija EIB-a za sprečavanje prirodnih nepogoda, ekonomski oporavak, reformu zdravstvenog sistema stvoriće put za veći pros-peritet i bolje uslove života za građane Zapadnog Balkana.


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of a new hospital in Bijeljina €115 million. Some of these institutions played a critical role in fighting the pandemic by treating infected patients and saving many human lives.

eiB as a sTraTegic parTner To MonTenegro

The EU bank has been active in Montenegro since 1977, unlocking €890 million invested mostly in support of SMEs, education and transport infrastructure. In 2019 alone, the EIB disbursed €141 million for SME support and the construction of education facilities across the country.

Education has also been an important sector for EIB in Montenegro. By participating in Montenegrin Education Program, the EIB helped construction, renovation and equipping of 17 educational facilities, which resulted in extending capacities to additional 2070 places and creating 530 new jobs.

In water and sanitation systems, the EIB invested almost €70 million up to date, providing better sanitary conditions and drinking water quality to the popula-tion across Montenegro. These kind of environmental projects increase resilience to pandemics as well.

Total EIB financing in Montenegro by sector (since the start of the operations)

Investing in rehabilitation of road and railway network, SME recovery, education, improvement of water and sanitation systems and strengthening of the healthcare facilities will continue to be EIB’s focus for Montenegro. Some of these new projects have already been approved and

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