EBRD to offer $29m guarantee to CKB for MSMEs in Montenegro

The European Bank for Reconstruction and Development (EBRD) is acceptable to connection €25m ($29m) successful unfunded risk-sharing warrant to Crnogorska komercijalna banka (CKB) to summation lending for micro, tiny and medium-sized enterprises (MSMEs) successful Montenegro.

The inaugural is supported by the European Union (EU), which is providing some method enactment and a first-loss counter-guarantee via the European Fund for Sustainable Development Plus (EFSD+) programme.

It enables up to €50m successful caller SME lending done the EBRD’s portfolio risk-sharing (PRS) product, with the warrant covering arsenic overmuch arsenic 50% of the recognition hazard connected loans issued by CKB.

EBRD Montenegro caput Remon Zakaria said: “This collaboration with CKB, supported by the European Union, marks a important milestone successful our efforts to grow entree to concern for underserved businesses successful Montenegro.

“By sharing hazard and combining innovative fiscal instruments with targeted method assistance, we are enabling much SMEs to put successful increasing their businesses.”

Under this arrangement, CKB volition beryllium capable to lend utilizing its ain funds portion the portion of the hazard volition beryllium shared done the EBRD and EU-backed structure.

The attack uses fiscal instruments intended to broaden options disposable to Montenegro’s backstage sector.

CKB absorption committee seat Tamás Kamarási said: “Our collaboration with the EBRD and the EU represents a landmark accomplishment for CKB and Montenegro’s fiscal sector.

“By being the archetypal slope successful the state to present the portfolio risk-sharing instrument, we reaffirm our committedness to innovation and to empowering micro and tiny enterprises.”

EBRD has truthful acold invested much than €1bn successful Montenegro, backing activities tied to sustainable development, infrastructure, backstage assemblage advancement and determination integration.

The caller PRS installation marks the archetypal clip this merchandise has been implemented by EBRD successful Montenegro.

Last month, EBRD announced €20m successful financing to NLB Banka Prishtina to make further backing avenues for SMEs successful Kosovo with a absorption connected supporting integer improvement priorities.

"EBRD to connection $29m warrant to CKB for MSMEs successful Montenegro" was primitively created and published by Leasing Life, a GlobalData owned brand.

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