BAKU, Azerbaijan, June 5. The European Bank for
Reconstruction and Development (EBRD) and the European Union (EU)
are scaling up their support for Montenegro’s transition to a green
economy by rolling out their SME Go Green programme in the country,
Trend reports
via EBRD’s latest reports.

The SME Go Green programme will support small and medium-sized
enterprises (SMEs) in Montenegro, with dedicated credit lines
channelled through local partner banks, as well as technical
assistance to help SMEs prioritise their investments and plan
accordingly.

In addition to loans, SMEs will also benefit from grant
incentives totalling 10 per cent of the loan amount, with a higher
figure of 15 per cent for investments in renewable energy and
agribusiness (including agribusiness value chains). Both the grant
incentives and the technical assistance will be financed by the
EU.

The programme will support the competitiveness of Montenegrin
SMEs by helping those businesses to access financing for investment
that cuts energy waste and improves energy efficiency, aligning
them with EU and international standards.

Remon Zakaria, the EBRD’s Head of Montenegro, said: “We are
delighted to be rolling this programme out in Montenegro, providing
businesses with technical and financial assistance for green
investments. These investments will help local SMEs to improve
their productivity, cut their operating costs and reduce their
carbon footprint, making them more competitive in local and EU
markets.”

Yngve Engstrom, Head of Cooperation in the EU Delegation to
Montenegro, added: “SMEs are key drivers of growth and change. We
are therefore proud to support this initiative with the EBRD, which
brings 145 million euros in funding to boost green innovation,
agribusiness, and competitiveness among SMEs in the Western
Balkans, with a strong focus on women-led businesses. We strongly
encourage all eligible SMEs to seize this opportunity and help
build a greener, more inclusive future.”

The SME Go Green programme is already operating in a number of
other Western Balkan countries. In this initial phase, the
programme will provide a combined total of 120 million euros of
targeted SME financing across the Western Balkans region, with that
figure expected to reach 400 million euros over the next few
years.

A launch event in Podgorica to mark the programme’s rollout in
Montenegro was attended by representatives of the EBRD and the EU,
as well as local partner banks and businesses. Montenegrin SMEs can
now access financing from Crnogorska komercijalna banka (CKB) and
NLB Banka Podgorica under the programme.

The Bank has invested 943 million euros in Montenegro through 99
projects since Montenegro joined the EBRD in 2006. The EBRD’s
priorities in Montenegro are competitiveness, green transition and
further integration into regional and global markets.