AmCham Montenegro Executive Director, Mr. Edin Seferović, chaired a panel discussion at the international conference “Podgorica Approach Launch – Conditions for Success” organized by the Central Bank of Montenegro, in cooperation with the World Bank Vienna Financial Advisory Centre (FinSAC). The conference took place at the Hotel Ramada Podgorica, on Monday, May 26.

The focus of the conference was to discuss opportunities for recovery and resolution of the non-performing loans and other distressed asset restructuring on a voluntary basis, through the proposed Law on Voluntary Financial Restructuring.

“The possibility to restructure non-performing loans in Montenegro could provide an important avenue to attract new investors into the market and further improve the economy. Outside of the financial challenges, there still exist business barriers, which our panel of experts discussed during the session dedicated to the “Perspectives of Potential Investors and Conditions in the Real Economy” said Mr. Edin Seferović, AmCham Montenegro Executive Director.

The Conference gathered many distinguished guests and panelists, including the representatives of the Government of Montenegro and other relevant institutions.

“The project should bring the necessary improvement to the quality of loan portfolios, enabling the revitalization of bank lending to productive sectors of the Montenegrin economy”, said Mr. Radoje Žugić, the Minister of Finance in Montenegro.

A number of expert panels and presentations were held at the Conference, in order to discuss direct and system support necessary for successful implementation of the Podgorica Approach Framework.