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Add to Preferred SourcesThe World Bank approved a EUR 30.00 million loan (US$34.89 million equivalent) for the Second Montenegro Institutional Development and Agriculture Strengthening Project (MIDAS 2). The objective of the Project is to improve the competitiveness of agriculture and fisheries through enhanced delivery of government support in alignment with EU accession requirements.
Through a grant program, the project will increase economic activities in rural areas, generate jobs and leverage private investments through beneficiaries’ contributions. This project will also provide much-needed support to the fisheries sector. At the same time, the project will help the Montenegrin producers to participate in the EU market and benefit from access to a larger demand for their products.
“This Project will help create jobs and enable agriculture producers to improve their livelihoods through the provision of public goods and the support to private investments”, said Emanuel Salinas, World Bank Country Manager for Montenegro.
The original MIDAS project, which began in 2009, has achieved significant results. The most successful element of MIDAS has been the provision of grants modelled after the EU’s pre-accession financial support scheme called IPARD to agricultural producers through Montenegro’s public institutions. Around 660 farmers received IPARD-like grants to enhance their agricultural production. MIDAS has also helped with strengthening institutions providing support and services in the areas of food safety, animal health, and rural development.
Both MIDAS Projects are an example of excellent collaboration between the Ministry of Agriculture and Rural Development of Montenegro, European Union and the World Bank.
The World Bank portfolio of active projects in Montenegro includes six projects, totalling approximately US$170 million. Areas of support include governance, environment, agriculture, education, and energy efficiency.
Original source: World Bank
Published on 30 January 2018