Montenegro SDG Acceleration Fund Steering Committee established

Representatives of the Government of Montenegro and the United Nations system in Montenegro, together with representatives of international strategic partners - Switzerland and Luxembourg, held a constitutive session of the Steering Committee of the Montenegro SDG Acceleration Fund (MAF). The Fund is a new generation financial tool established by the UN Montenegro, which aims to pool partner funds and direct them for development initiatives.

On today's session, the MAF Steering Committee made a decision to release 1,3 million USD for three calls for proposals to accelerate SDGs implementation in Montenegro and support the EU accession through innovative solutions and joint-action.

The Prime Minister Dritan Abazović said that today's meeting of the MAF Steering Committee is a confirmation of previous intentions and joint, intensive work.

„We believe that in the coming period these funds will grow, because the Government of Montenegro is determined to provide full and strategic support through this Fund to accelerating the SDGs implementation, which is to a great extent harmonized with the process of Montenegro's accession to the EU,“  Prime Minister said.

The MAF Steering Committee consists of representatives of the Government, the UN system in the country and strategic partners, including: Prime Minister Dritan Abazović, UN Resident Coordinator Peter Lundberg, advisors to the Prime Minister Ivo Šoć and Andrej Bracanović, UNICEF Representative in Montenegro Juan Santander, ILO project coordinator Nina Krgović, Ambassador of Luxembourg to Montenegro Philippe Donckel and the Head of the Swiss Development Cooperation Office in Belgrade Richard Kohli. The newly formed body is in charge of managing the Fund, strategic positioning, supervision, making decisions on the distribution of funds as well as other important aspects of the Fund's operations.

UN Resident Coordinator Peter Lundberg thanked Prime Minister Abazović for his leadership and personal commitment to the establishment and early success of the Montenegro SDG Acceleration Fund, and for recognizing the Fund as a tool for investing in a specific development niche of sustainable development and the EU accession process.

"This is also reflected in the financial contribution of Montenegro to the Fund in the amount of one million euros. Observed per capita, it is €1.6 invested in sustainable development through the Accelerated Development Fund. By comparison, this is a very large amount per capita in comparison with many other countries in Europe and in Central Asia region, who also invests in country-based sustainable development pooled funds." - said Lundberg,.

The founding of the MAF Steering Committee followed after the Fund generated partnerships worth EUR 2.6 million at the beginning of the year, shortly after its formation. Apart from the Government of Montenegro, the Government of Switzerland also supported this initiative with EUR 1.6 million. Previously, the contribution to the Fund was determined by the Government of Luxembourg.

Montenegro's contribution to sustainable development through this financing model is particularly significant when put into the perspective of the country's size and economy. The Fund for Accelerated Development of Montenegro is designed as a strong catalyst for accelerating the achievement of the Sustainable Development Goals.

By consolidating and directing funds towards targeted development interventions, the Fund aims to also contribute to the acceleration of Montenegro's accession to the EU.

The fund is designed to support strategic initiatives in three priority areas of the UN Sustainable Development Cooperation 2023-2027: 1) inclusive economic development and environmental sustainability, 2) human capital development, reducing vulnerability, social inclusion, and 3) social cohesion, people-centred governance, rule of law and human rights.