EBRD opens credit line to Lovćen Bank to support SMEs in Montenegro
The European Bank for Reconstruction and Development said has launched a new EUR 4 million credit line to Lovćen banka AD Podgorica (Lovćen Bank) to support the competitiveness of small and medium-sized enterprises (SMEs) in Montenegro.
In the form of working capital lines and investment loans, the funding will boost lending to private businesses and provide short-term liquidity.
The credit line will support the post-pandemic recovery of Montenegro's economy and strengthen its resilience in the medium and long term.
It will also play an important role in the implementation of the country's green agenda, as the EBRD and Lovćen Bank expect that 10% of the allocated funds will be used to finance green investments by SMEs.
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