The European Bank for Reconstruction and Development (EBRD) has launched the program “Women in Business” to encourage the development of women's entrepreneurship, and a million euros has been provided for this purpose.

The EBRD announced that the microfinance institution Alter modus had become the first local partner to join the program.

“In the initial phase, the EBRD will provide EUR 1 million to Alter Modus to support women-led micro, small, and medium-sized enterprises. The focus will be on supporting small and medium-sized businesses, especially those outside the capital Podgorica," the EBRD said.

The program “Women in Business” supports women entrepreneurs through access to finance and advisory services to help them improve their businesses.

“Since its global launch in 2014, the program has already involved more than 5,000 women entrepreneurs in the Western Balkans through both forms of support - funding and advisory services. In the Western Balkans, the program is supported by donors from the governments of Italy, Luxembourg and Sweden," the statement said.

The EBRD program “Women in Business” has so far provided more than EUR 500 million through credit lines for more than 60,000 SMEs run by women in 18 countries.

Since investing in 2006, the EBRD has financed 60 projects in Montenegro with a total value of EUR 571 million and provided business consulting and training for more than 100 women-run Montenegrin companies.

Text by Marija Mirjacic, on September 25th, 2019, read more at Vijesti

The pedestrian foothpath at Virpazar, which facilitates and enables a safer crossing of the highway and railroad at Podgorica - Bar, is open today to all visitors and residents, according to the National Parks of Montenegro (NPMN).

"NPMN estimates that around 100,000 visitors have passed through this crossing during the season, and that this number will increase from year to year," the statement said.

Pedestrian foothpath in Virpazar (Photo: NPMN)

NPMN director Elvir Klica said the track was designed to be as comfortable as possible and follow the stone embankment line, extending below the thoroughfare and railroad to a temporary parking space.

"It is important for security reasons, because now visitors and residents of this place will be able to cross the highway and the intersection safely, and I am sure that it will enable a better valorization of the area," Klica said.

He added that NPMN would continue to renovate the tourism infrastructure.

Pedestrian foothpath in Virpazar (Photo: NPMN)

"At the beginning of the season, we arranged a fishing trail at Tanki rt, set up a recreational furnishing and information boards. We are planning the same on this footpath, so information boards and signposts will be installed in the coming period," Klica added.

Klica announced that in the coming period, he would work with the competent ministry and institutions on the construction of the marina, and it is planned to build a roundabout at the entrance to Virpazar, in order to solve the long-term problem of safety of the visitors and residents.

"Also, one of the problems with this place is the parking space. The NPMN will envisage for the next season two new sites for this purpose on the right side of the highway Podgorica - Bar, as well as one temporary parking lot in Virpazar itself," Klica explained.

Text by MINA News, on September 24th, 2019, read more at Vijesti

Non-Governmental Organization (NGO) Eco Team believes that Montenegro, as a signatory to the Paris Agreement, must make additional efforts to reduce greenhouse gas emissions and follow the ambitious goals of other European Union (EU) countries that have shown the willingness to take concrete actions for combating accelerated human-caused climate change.

That is why the plans for reconstruction and extension of the existing Pljevlja Thermal Power Plant for at least 20 years requires great caution, as said by this NGO.

"A few days ago, the Prime Minister of Montenegro announced the news of the Government's resignation from the construction of the second block of the thermal power plant in Pljevlja. Although the government's commitment to the environment was initially cited as the reason for such a decision despite the numerous economic benefits that the investment could bring, a day later it was announced that, in fact, the real reason is the international financial institutions' attitude towards such projects, as well as the inability to adhere to strict European directives on industrial emissions," said the statement from Eco Team signed by Diana Milev Cavor.

She believes that the skepticism about the expectation that existing thermal power plants will be able to meet all environmental standards and comply with the permitted emissions is justified, if this could not be achieved by the construction of a new power plant.

"This is just one more of several reasons why there is a fear that the plan for the reconstruction of the thermal power plant will not be implemented as intended," states Milev Čavor.

She believes that Montenegro, following the EU countries, must set a date for the abandonment of coal-produced electricity and set that deadline with the National Climate and Energy Plan, with which Montenegro has already begun.

She recalls that 13 EU countries have done the same so far.

"At the United Nations Climate Action Summit, governments and private sector leaders expressed their readiness to tackle climate change and said the pace of climate action must be accelerated, that more concrete plans and greater ambitions are needed. According to the UN, the world will have to increase its efforts three to five times to keep climate change at a level that science has defined as acceptable, which implies a temperature rise of up to 1.5°C, to avoid the effects of those changes already visible around the world. Science shows that the phasing out of coal, the most polluting fossil fuel, is essential to achieving that goal. Preliminary analyses have provided a global date for phasing out in 2050. New research on what it takes to meet the Paris Agreement of 1.5 ° C shows that governments now need to move that date back a decade, and developed countries have to phase out coal faster than the rest of the world – until 2030," points out Milev Čavor.

She also said that investments in coal, i.e., new thermal power plants, have fallen by 75 percent since 2015, but canceling new projects is no longer sufficient.

"Governments must increase their NDCs (intended national contributions in emission decrease) by 2020, as set out in the Paris Agreement," states Milev Čavor.

Text by Goran Malidzan, on September 25th, 2019, read more at Vijesti

The Ministry of Defense has signed a nearly €110,000 contract to train pilots to operate “Bell” helicopters.

The tender documentation required initial pilot training on the “Bell 412” helicopter for six pilots, which included a minimum of 36 hours of theory applied per pilot and six hours of flight on a helicopter as well as a minimum of six hours of simulator flight.

It also required periodic training for four pilots on the “Bell 412” flight simulator for at least four hours.

Last year, the ministry signed a EUR 30 million contract, i.e., a loan arrangement for the trade of three multipurpose “Bell” helicopters, two of which are new.

The tender for the training of pilots received the offer of a consortium consisting of the Spanish "Pegasus aviation" and the Montenegrin "Li commerce".

Pilot training on helicopters and simulators will be conducted by Spanish instructors.

Text by Milos Rudovic, on September 25th, 2019, read more at Vijesti

September 26, 2019 - The first leg of 7th Thousand Islands Race that started at noon on Sunday from the Rijeka Harbour on a 278 NM long course to the finish line at the marina Porto Montenegro in Tivat could, in short, be described as: „from lull to lull“. However, between two calms at the start and the finish, there was everything that makes offshore racing interesting and demonstrates why this is one of the most beautiful race courses nature designed. Fleet not numerous but profoundly international consisting of crews from Austria, Croatia, Great Britain, Hungary, Montenegro, Slovakia and Slovenia.

The hope that many sailors wanted the bura (NE) in Rijeka before the regatta to stay proved to be wishful thinking and tradition of starting in light wind prevailed.

Optimistic was the prognosis calling for jugo (SE) over almost the entire course the first two days into the race, meaning a lot of close-hauled sailing and longer routes. However, as long as there is wind, the sailors are happy. The boat speeds that could be traced on the Internet in real-time more significantly increased only after passing island Rab.

The forecasted jugo reached 15 knots with gusting 20 knots. In the first part of the race, three teams retired. The first one was due to the mast falling down of the Austrian Sayg I, the only multihull competing, with luckily no injured crew members. This meant that the end of the race for them was Punat.

A crew member of Austrian Abracadabra required medical assistance, forcing her to stop in Biograd. The bad news continued and Croatian Mowgli lost its mast at Žirje island and forced them to retire. Mowgli, luckily without any injury to the crew, first called at Kapri island and next morning continued to Tribunj.

Last year's winner Slovakian Lucia X with a Croatian crew ripped their foresail that required the crew to climb up the mast and needed to detour to find shelter to complete the repairs. This caused the loss of valuable time and the chance of good result on the first leg.  The rest of the fleet was sailing SE avoiding several local thunderstorms before jugo (SE) gave way in the middle Adriatic to forecasted tramontana (N) and northwesterly winds.

Four boats - Slovenian Macropus, Austrian Vento Cadela, Slovakian Lucia X and British Atame with an Italian crew on board were exchanging the lead. Hungarian Sunday Morning, the biggest in the fleet, was the only one choosing the course close to the shore through the Zadar channel and north of Korcula and Mljet islands. Weather conditions almost ideal until Dubrovnik and Cavtat turned into a lull from the beginning of the story. Nearly all night from Tuesday to Wednesday before and after entry to the Bay of Boka Kotorska, the boats were crawling at a speed of 1-2 knots.

The first boats came close to finishing around six o'clock on Wednesday morning, but they needed more than three hours for the last few bouts of NM. Slovenian Macropus and Austrian Vento Cadela were match racing using every breath of the wind available. At the end, Macropus crossed the finish line first at 09:34:13 after more than 69 hours of racing, making this the slowest first leg in the history of the Thousand Islands Race. Austrian Vento Cadela with Christian Pfann at the helm crossed the line 12 minutes later, and that was enough to win the race under corrected time. It very soon became apparent that no other boat still racing could endanger their overall lead.

The long-lasting first leg caused the cancellation of Thousand Islands Race + 2 planned in Bay of Boka Kotorska for the layover between two legs. There will be almost no rest for Montenegrin Sofia that finished last because the start of the second leg follows soon – at noon on Thursday 26th September 2019.

Source: scor.hr

25 September 2019 - Every year, several tourists get lost in the Montenegrin mountains just because they often go on tours on their own. According to experienced mountaineers, one must respect the laws of the country, as well as its territories regardless of the dangers in the mountains. However, Montenegro still does not oblige tourists to use services of licensed mountain guides, reports Cafe del Montenegro

Last year, there were four cases of rescuing foreign tourists in the National Park Biogradska Gora, while this year, there were two. According to the Director of the National Park Biogradska Gora Marko Vlahović, all these tourists did not use services of professional guides but went off the marked walking trails. No mountain rescue service has been charged ever.

The region, on the other side, has this well regulated. In case a tourist gets lost or seeks a guide’s help, he/she is obliged to pay for this service. Moreover, a group who is coming to a country needs to hire a guide from that country, while in Montenegro tourists still organize climbing tours on their own.

In this regard Vlahović urges the tourists coming to Montenegro to hire a mountain guide who knows the walking tours well as in that way it will be impossible to get lost!

However, once you find your guide, be sure to check out a hiking break in Northern Montenegro, where the tour is focused around the town of Pluzine, which is located in north-western Montenegro and is the center of the Piva region. A certain part of this cruise takes place through the Piva Canyon, which will take your breath away just by taking a look at its size and height. The two-night full board stay takes place in traditional cabins made of wood and stone, which are located in an eco-resort overlooking the Piva Lake, making this an excellent opportunity to relax, breathe in loads of fresh air and get your thoughts away. Also, many different culinary specialties of Montenegrin cuisine are included in this offer, featuring all three main meals, as well as a driver/guide, a hotel pickup and drop-off, some local taxes and all activities provided by the programme.

25 September 2019 - The citizens, economy and the Government in Montenegro owed more than 3 billion EUR to the banks on the grounds of different types of loans, shows the latest data of the Central Bank of Montenegro, reports CdM.

Domestic and foreign citizens owe 1,315 billion EUR but have 1,787 billion EUR in their accounts. At the end of August this year, financial institutions in Montenegro arranged a total of 3,033 billion EUR of loans for population, economy and the Government. Citizens of Montenegro owed 1,303 billion EUR.

Montenegrin companies had loans worth more than 1 billion EUR, whereas foreign financial firms owed 347,5 million EUR. Domestic financial institutions had 25 million EUR of loan debt and NGOs had 8,8 million EUR of debt.

Local and state governments, funds and state-owned companies had loans with a total value of 230 million EUR. This way, the Government owes 151,5 million EUR. Local administrations - 41,5 million EUR, funds - 1,5 million EUR and state companies owe 35,5 million EUR.

Average interest rates on all loans were 3,08% in August. Interest rates for Government and its institutions were held at the lowest range. Citizens still pay most to the banks – interest rates amounted to 7,63% at annual level.

For cash loans, banks were reimbursed with 8,49% of total funds at annual level. They earned most from education loans.

On the last day of August, there was a total of 3,535 billion EUR deposited in Montenegrin banks. Around 1,289 billion EUR belongs to Montenegrin citizens. Banks and similar institutions have 34,4 million EUR, and companies have 888,2 million EUR and non-profit organizations have 59,2 million EUR. The government entrusted 180,4 million EUR, local administrations – 70,2 million EUR, funds – 5,97 million EUR and state companies – 246,8 million EUR.

As far as deposited funds of foreigners are concerned, the financial sector keeps 8,7 million EUR in the accounts of Montenegrin banks. Other foreign companies have 25,9 million EUR, non-profit organizations have 3,1 million EUR and foreigners have 497,9 million EUR.

The average passive interest rate applied to keep money in banks amounted to 0,43% at the end of August. That means that companies could have earned 0,29% of the total amount annually, whereas the population could have had 0,58% of the amount.

Deposits interest rates are still at 0,02% at annual level. Lowest interest rates are demand deposits and one-year deposit interest rates (0,01% and 0,03% respectively).

Read more news about lifestyle in Montenegro at TMN's dedicated page.

25 September 2019 - Expensive loans, collection of receivables, extended deadlines for obtaining permits and long, drawn-out court procedures in commercial disputes are some of the most important challenges and barriers Montenegrin businesspeople are faced with, said CEO of Montenegro Business Alliance Milan Dragić, CdM reports.

He said that it was necessary to intensify activities and engagement of all relevant subjects in order to reduce barriers, especially those referring to sluggishness or insufficient responsibility in public administration.

"The problem of illiquidity and collection of receivables still exists. Provision of financial funds is a problem due to expensive loans and this issue should be addressed with utmost attention, as it affects the business development. Deadlines for obtaining different kinds of permits should be shorter and a number of documents required for the procedures should be reduced. It is necessary to accelerate court procedures in commercial disputes, especially in contract performance. These barriers target all sectors and they need to be addressed comprehensively. Every economy and society as a whole depend on business. Is there anything more important than providing optimal conditions to those who create new values," asked Dragić.

According to him, innovation is necessary if we want to be competitive in demanding foreign and domestic market. In that context, the quality of products and service offered is essential.

"We should endeavor to provide the greatest possible productivity in order to increase competitiveness. Creating a stimulating environment for businesses is crucial. MBA is very engaged in this regard," says Dragić.

Asked to give his opinion on the business environment in Montenegro, Dragić says that it has considerably improved.

"MBA was the first company to start dealing with the problem of business barriers. And the progress we have made is more than obvious. Usually, people who decide to set up their own business lack initial financial funds. In other words, they are required to provide the money on their own. That has to be changed if we want to encourage business development," pointed out Dragić.

He also added that the cooperation with state and local administration authorities is increasing.

"Certainly, it can be much better, but there is will and that is what matters. Representatives of state and local authorities are becoming aware of the importance of business associations and they are ready to take up our suggestions. To be more precise, they are starting to regard us as their equal partners and that is a necessary prerequisite for raising the quality of our business relations. We firmly believe that the role and influence of business associations will become even more important," concluded Dragić.

Read more news about business in Montenegro at TMN's dedicated page.

Celebrations to mark the anniversary of the Federation of European Carnival Cities, Dies Natalis, are taking place this year in Herceg Novi, with representatives of carnival cities from around the world visiting from Friday. For three days, from the 27th to 30th of September, Herceg Novi will welcome guests from the largest carnival family in the world, alongside members of the International Board of the Federation, which is celebrating its 39th anniversary this year.

Members from Aruba, Belgium, Bosnia and Herzegovina, France, The Netherlands, Croatia, Italy, Luxembourg, Macedonia, Germany, Portugal, Slovenia, Serbia, Sweden, Turkey, Ukraine, and Montenegro will be attending one of the most important events for the Federation, reports Chair of the Federation, Lars Algel.

The programme will officially begin with the raising of the flag of the Federation of European Carnival Cities at the Clock Tower (Sahat Kula) on Friday, 27th September at 6 pm. Two meetings of the International Board are scheduled, as well as the signing of a cooperation agreement between the Federation and the Municipality of Herceg Novi. Guests will also have the opportunity to visit the city and discover its history, culture and festival traditions.

It is worth noting that Herceg Novi has the honour of hosting Dies Natalis on an important anniversary, that of 50 years of the Mimosa Festival. During the Mimosa Festival in March, the Municipality accepted the proposal of the Federation and supported the candidacy, and at the Convention in Turkey, the proposal received the support of the International Board.

Terminal 2, which opened at Tivat Airport late last year, in less than two months this summer handled 102,000 passengers and will certainly relieve the total traffic of passengers in the airport building. "This increases the comfort of passengers and the quality of service, which is the obligation of every airport to provide to the passengers," director of Tivat Airport Rade Maric told to “Radio Tivat”, emphasizing that it is necessary to raise the quality and extend the aircraft platform as a priority.

There is nothing unsafe at the Airport, but the fact is that some of the investments needed to be made long ago and that the involvement of all airport participants needed to be much greater to maintain that security at the required and demanding level. Since we have increased passenger comfort and quality of service with the new terminal, the same should be done with the expansion of the aircraft platform," explained Maric.

At this point, the priority is a wider and more comfortable platform, that is, generally to bring the entire operating areas to a higher level. The executive management of "Airports of Montenegro" has recognized this as a need and is intensively working on it, said Maric, stating that the introduction of night flights at the airport will greatly relieve traffic on a daily basis.

According to him, the priority would be that the planes do not remain on the platforms, that they are not late and that they are not diverted when it is dusk and 30 minutes after that, mainly to Podgorica Airport. "So, we would have relief and not have to rush at 9 pm, or when the peak season expires and we can no longer accept planes. This would be a limited time because we are still an elite tourist destination, and we have to keep in mind the comfort of those who come to rest in Tivat. Certainly, an hour, an hour and a half to two would significantly contribute to the relief of daily traffic," explained the director of Tivat Airport.

The airport has been doing very well this month as well. Traffic is almost at the level of the summer months, said the director of the airport, emphasizing that very good results are expected in the first half of October.

From the beginning of the year to September 22, there was a turnover of 1,188,000 passengers, which is almost 100 thousand more than in the same period of the previous year when there were 1,093,000. During that period, 6,000 aircraft were accepted and 5,860 in 2018, Maric said.

These results show that the season and the post-season are slowly equalizing, which will happen in the coming period. "We are going to extend the season to 6-8 months a year. A record was achieved this summer when 66 aircraft and 12,269 passengers were received and served in one day. That record in the history of both Montenegro's airports was recorded on August 4th.

The largest and most important resource of Tivat Airport is one significant portion of employees who every airport would wish to have. They are credited for having so much traffic in such a small space, without any incidents. "A couple of minor excesses are negligible compared to such a large number of passengers and aircraft served," the director of Tivat Airport concluded.

Text by Zora Krstovic, on September 24th, 2019, read more at Radio Tivat