WB EDIF has seen very good take-up from the Guarantee Facility in Montenegro, whereby under the first round of financing, the EIF deployed a guarantee instrument with Crnogorska Komercijalna Banka (CKB) in 2014. A second allocation to CKB took place in 2016 – stemming from an additional EU financing contribution owing to the general success of the instrument in the region.
The Fund Managers of ENIF and ENEF have also been actively exploring investment potential and sourcing pipeline in the country.
On the Support Services side
- SMEs in Montenegro have received advisory services through 36 projects under the EBRD’s Advice for Small Businesses (ASB) to help their growth, competitiveness and bankability
- Led by the OECD, the Small Business Act (SBA) assessment supported Montenegro in improving SME policy making and enhancing the capacity of its policy makers in addressing related challenges
- The World Bank Investment Readiness Program “Pioneers of the Balkans” provided mentoring to entrepreneurs to help them get access to external sources of funding.,
- An IP Toolkit was distributed to participants of the Workshop held in Podgorica under the programme lead by EIB for support on intangible assets and intellectual property in the Western Balkans
- Under the World Bank’s EU-REPARIS programme, activities were organized on a regional basis with regular participation of the various stakeholders of Montenegro
Financing for SMEs