Completion and Learning Review Validation Montenegro - FY16-FY21 Country Partnership Framework

Jul 19, 2026

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Completion and Learning Review Validation assesses the World Bank Group’s Completion and Learning Review for Montenegro across the Country Partnership Framework (CPF) period from FY16 to FY21. The review covers development outcomes, World Bank Group performance, and ratings on objective achievements, highlighting progress in macroeconomic management, public finance, education quality, and financial-sector resilience. It also evaluates program design, indicator adequacy, risk assessment, partnership coordination, and the extent of safeguards or fiduciary issues, using updated information from PLR revisions.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages35

Reading Time1 h 28 min

Executive Summary

Ratings

Focus Area I: Macroeconomic and Financial Resilience

Focus Area II: Expand Access to Economic Opportunities

Program Design, Implementation, and Partnerships

Public Disclosure Authorized Public Disclosure Authorized Completion and Learning Review Validation Montenegro FY16-FY21 Country Partnership Framework July 29, 2024 Ratings | Indicator | CLR Rating | CLRV (IEG) Rating | | --- | --- | --- | | Development Outcome | Moderately Satisfactory | Moderately Satisfactory | | World Bank Group Performance | Good | Good | Note: CLR = Completion and Learning Review; CLRV = Completion and Learning Review Validation; IEG = Independent Evaluation Group I. Executive Summary i. This review of the World Bank Group’s (WBG) Completion and Learning Review (CLR) covers the period of the Country Partnership Framework (CPF), fiscal years FY16-20, approved on June 16, 2016, and updated in the Performance and Learning Review (PLR) dated August 20, 2019, which extended the CPF period by one year to FY21. ii. The CPF addressed most of the top priorities identified by the Systematic Country Diagnostic (SCD, 2016), supported Montenegro’s European Union (EU) accession and integration process, and was aligned with corporate goals on gender and climate change. The CPF’s two focus areas addressed key development challenges identified in the SCD, focusing on six of the eleven key priority actions identified in the SCD. It selectively supported areas outlined in the Government Development Strategy that were expected to contribute most effectively to eradicating poverty and improving shared prosperity. The twin goals were reflected in both CPF focus areas, being strongest in Focus Area II: Expand Access to Economic Opportunities, which included actions to address climate change. All new operations were gender-informed, with one in the agricultural sector being gender-tagged. At the time of the PLR, one objective was dropped, two objectives were revised, and several indicators were changed or dropped to reflect the changing priorities of the government and what the program could deliver during the remaining period of the CPF. iii. IEG rates the CPF development outcome as Moderately Satisfactory and WBG performance as Good. One of the five objectives is rated as Achieved, three as Mostly Achieved, and one as Partially Achieved. Under Focus Area I: Macroeconomic and Financial Resilience, the program achieved good results in reigning public expenditures despite severe shocks, reducing government arrears, and Value Added Tax (VAT) management at the Revenue Administration agency. The target of reducing public debt as a percentage of GDP was reached two years later than initially envisaged. There were also positive achievements in the financial sector by reducing the share of non-performing loans (NPLs) in the total portfolio and with the approval and implementation of stronger prudential norms on credit risk, deposit protection, and bank resolution in alignment with the European Banking Authority’s guidelines. The CLR did not report on improved efficiency of public finance or the financial sector, and IEG did not find additional evidence to support this aspect. Good results were also achieved in Focus Area II asthe program helped improve the quality of higher education as the four main universities and five other higher education institutions were accredited in line with EU standards. It also helped adopt better funding models in education to ensure efficient and effective allocations inline with national priorities and foster new research and development endeavors. However, outcomes from these endeavors were not reported in the CLR. In addition, employer’s perception of the relevance of the skills of graduates did not increase as expected. There were strong results in bringing agriculture practices and processes in line with EU requirements and boosting investment in the agriculture sector. There was significant progress on remediating three targeted contaminated sites, retrofitting public buildings to be energy efficient, and introducing private management at small hydropower plants. iv. Progra

FAQs

What period and documents does the validation cover?

The validation covers the CPF period spanning FY16-FY21 and references the CLR and subsequent Performance and Learning Review (PLR) updates.

How are development outcome and World Bank Group performance rated?

Development outcome and World Bank Group performance are rated Moderately Satisfactory and Good, respectively, with five objectives assessed as Achieved, Mostly Achieved, and Partially Achieved categories.

What were key achievements under the two CPF focus areas?

Under Focus Area I, results include improved public expenditure management, arrears reduction, and financial-sector advances such as lower non-performing loans. Under Focus Area II, achievements include higher-education accreditation aligned with EU standards, stronger education funding models, and agriculture and hydropower-related progress.

Jul 19, 2026

Upload by Noah