EBRD and EU expand SME support in Montenegro

• Loan under the Go Digital in the Western Balkans programme to boost SME digitalisation, green technologies and competitiveness
• Programme’s first credit line in Montenegro and the inaugural cooperation between the EBRD and Addiko Bank Podgorica
• Support from the EU in the form of grant incentives and technical assistance

The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €2 million to Addiko Bank Podgorica in support of small and medium-sized enterprises (SMEs) in Montenegro. The loan is the first to be extended in the country under the Bank’s Go Digital in the Western Balkans programme, co-funded by the European Union (EU), and marks another milestone in the EBRD’s efforts to accelerate sustainable growth in the region.

The loan will help the private sector to innovate and become more competitive through investments in digitalisation and green technologies. It will also strengthen the capacity and trade potential of SMEs by improving access to finance for EU-standard investments and promote inclusive growth by ensuring equitable financing for women-led businesses.

In addition to loans, SMEs can access grant incentives totalling 10 per cent of sub loans, encouraging them to invest in automation and digitalisation. The credit line will also be accompanied by a comprehensive technical assistance package supporting partner banks and sub-borrowers. The investment incentives and the technical assistance are both being funded by the EU through the Western Balkans Investment Framework (WBIF).

Remon Zakaria, the EBRD’s Head of Montenegro, said: “This €2 million loan under the Go Digital in the Western Balkans programme, which is the first in the country, will enable SMEs to adopt digital and green technologies, boost their competitiveness and move closer to EU standards. By partnering with institutions such as Addiko Bank, we are creating opportunities for businesses to innovate, grow sustainably and contribute to a more inclusive Montenegrin economy.”

Christoph Schoen, President of the Management Board of Addiko Bank Podgorica, said: “Our cooperation with the EBRD on the first Go Digital in the Western Balkans credit line in Montenegro is a significant step in supporting the country’s economic competitiveness. Digital and green investments are essential for sustainable growth, especially for SMEs that drive Montenegro’s economy. With this programme, we aim to provide businesses with the financing and tools they need to modernise, improve productivity and strengthen their long-term resilience.”

The EBRD is a leading institutional investor in Montenegro, with over €1 billion invested through more than 100 projects to date, supporting the country’s sustainable development, infrastructure, private-sector growth and regional integration.