The Ministry of Economic Development will very soon propose a legal solution to the Government in order to establish the Credit Guarantee Fund (KGF), Minister Nik Gjeloshaj announced.
According to him, the Credit Guarantee Fund, as an independent and sustainable institution, will provide easier and increased access to financial resources for micro, small and medium enterprises, entrepreneurs and citizens who perform commercial activities.
– The credit-guarantee fund will be a turning point for economic development, which will guarantee a large number of loans in the amount of up to EUR 200 million in the coming period, which will contribute to the creation of a large number of jobs – stated Gjeloshaj.
As he said, the European Bank for Reconstruction and Development will be a partner in the project and, together with the consultants they provided, will reach a final legal solution.
– Our obligation is that the initial capital of the Fund, which will be provided by the Government in the budget for the next year, amounts to EUR 10 million – pointed out Gjeloshaj.
Apart from the sector of small and medium-sized enterprises, which is the dominant segment of the Montenegrin economy, funds will also be intended for special groups such as companies majority owned by women, farmers, tourist companies, IT companies, companies for energy efficiency and renewable energy sources.
“The axis of economic development is the empowerment of small and medium-sized enterprises,” said Gjeloshaj.
