Montenegro receives $10 million tourism funding boost from World Bank
The World Bank has agreed to invest $10 million (£5 million) into Montenegro's tourist industry and also announced it will support the Montenegrin government's attempts to enhance its economy.
Montenegro became a member of the World Bank in January 2007 and the latest $10 million agreement will help the country to develop a sustainable tourist industry, while reducing "environmental degradation".
Recent airport and accommodation statistics have shown that Montenegro's tourist industry is already booming, meaning this grant could be an extra boost to property investors in the area looking at holiday homes.
The funding is part of a wider $90 million finance package available to Montenegro over the next three years, with the country being "well-placed to benefit" from its "solid record" of reform.
The report from the World Bank noted that Montenegro should continue to drive forward economic reform strategies to strengthen its market-based economy, while improving public administration and transparency.
Montenegro is Europe's newest independent state and has been mooted for accession to the EU over the next decade.
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