Montenegro: Technical Assistance Report-Climate Public Investment Management Assessment

This report presents the findings of the Climate Public Investment Management Assessment (C-PIMA) for Montenegro. The assessment finds that Montenegro has taken steps to reflect climate change mitigation and adaptation objectives in the policy, legal, and institutional framework for public investment, while also highlighting significant scope to strengthen implementation across the full investment cycle. In view of Montenegro’s exposure to climate-related hazards and its ambitious greenhouse gas-emissions reduction commitments, the report identifies a forward-looking reform agenda to better align public investment with national climate objectives and support the delivery of more resilient and lower-carbon infrastructure. Key priorities include completing and aligning sector strategies with climate goals, strengthening climate-aware project appraisal and selection, introducing more systematic screening of investment projects, improving the treatment of climate-related investment in budgeting and reporting, and integrating disaster-related infrastructure risks more fully into fiscal risk analysis. Advancing these reforms would help strengthen the efficiency, resilience, and climate responsiveness of public investment and support effective implementation of Montenegro’s climate objectives.