The Closing event of the Twinning Light project “Strengthening Corporate Governance Provisions and Administrative Capacity of the Capital Market Authority of Montenegro” was held on 16 September 2025 in Podgorica. The project was implemented by the Croatian Financial Services Supervisory Agency (HANFA) in cooperation with the CFCA, which provided administrative and financial support to the project, while the beneficiary institution was the Capital Market Authority of Montenegro.
The event gathered representatives from HANFA, CFCA, the Capital Market Authority (CMA), the Delegation of the EU to Montenegro (EUD), and other key stakeholders. Croatian Ambassador to Montenegro emphasized the strong collaboration between the two countries, stating:
“This is the tenth of a total of twelve Twinning projects in Montenegro implemented by Croatian institutions. Croatia is fully committed to supporting countries on their path toward the EU and promoting European values. It is an honour to assist Montenegrin institutions in aligning with the EU acquis, helping them meet all criteria for full EU membership.”
Ms. Andreja Hašček, Member State Project Leader, and Ms. Ilda Pepić, Beneficiary country Project Leader, highlighted the project’s impact on strengthening the CMA’s capacities, improving corporate governance, and fostering excellent cooperation between the two institutions. Through a joint presentation, they guided participants through the implementation process and key results, with particular emphasis on the new Corporate Governance Code, which was successfully developed, adopted, and shared as a concrete and tangible outcome of the project.
The Closing event underlined the project’s achievements, reinforced the partnership between Croatia and Montenegro, and showcased the application of best European practices. The project supported alignment with EU standards and laid the groundwork for increased investor confidence, providing long-term sustainable benefits for institutional capacity, market stability, and further development of Montenegro’s capital market.
During the same week, on 19 September 2025, the second and final Project Steering Committee meeting took place. Attended by project leaders, representatives of the EUD, the CMA, and CFCA, the meeting reaffirmed the successful implementation of all project activities and marked the unofficial conclusion of the project.
