In an effort to accelerate achievement of Agenda 2030 in Montenegro, the UN Country Team joined forces with national and international partners to establish a Montenegro SDG Acceleration Fund (MAF) – a new generation financial tool which seeks to pool donor funds that will be directed towards development initiatives.
The strategic focus of the Fund revolves around the UN Sustainable Development Cooperation 2023-2027, targeting support to development initiatives from three strategic priority areas of UN work in Montenegro:
inclusive economic development and environmental sustainability;
human capital development, reducing vulnerability, social inclusion; and
social cohesion, people-centred governance, rule of law and human rights.
UN Resident Coordinator Peter Lundberg underlines that the Fund is set to be a powerful catalyst for accelerating SDGs implementation in the country.
"The Montenegro SDG Acceleration Fund is a common vision of accelerated achievement of Agenda 2030. Considering the enormous development potential, the Fund can be an important tool for country’s development and achievement of national priorities, primarily country's accession to the European Union," said Lundberg, adding that the Fund is the result of a true development partnership.
So far, the Montenegro SDG Acceleration Fund has pooled 2,5 million EUR for development initiatives, coming from Government of Montenegro, Luxembourg Grand Duchy and Switzerland.
The Government of Montenegro allocated EUR 1 million for the Montenegro SDG Acceleration Fund, while the Government of Switzerland supported this initiative with EUR 1.5 million. Previously, the contribution to the Fund was determined by the Government of Luxembourg.
The Fund is a step forward towards more integrated and coherent resource mobilization, centralized and transparent allocation and disbursement of resources to support country’s development.
Furthermore, the Fund also aims to support acceleration of the EU accession process through the 2030 Agenda framework, having in mind strong synergies between two major development processes in the country.