BAKU, Azerbaijan, December 13. The European
Bank for Reconstruction and Development (EBRD), in partnership with
the European Union (EU), has extended a loan of up to 3 million
euros to NLB Banka AD Podgorica, Trend reports.
The funding, provided under the SME Go Green program and
co-financed by the EU through the Western Balkans Investment
Framework (WBIF), aims to bolster Montenegro’s small and
medium-sized enterprises (SMEs) by promoting green and sustainable
investments.
The loan will enable NLB Banka to finance SMEs implementing
energy-efficient and renewable technologies. At least 25% of the
supported businesses are expected to be women-led, promoting
inclusiveness alongside sustainability. As an added incentive, SMEs
completing eligible projects will qualify for cashback grants
covering 10% of the loan amount, or 15% for projects focused on
renewable energy or the agribusiness value chain, funded by the
EU.
The program is designed to scale up green investments, reduce
environmental impact, and enhance resilience to climate change. It
also aims to improve SME competitiveness and facilitate the
adoption of internationally recognized quality standards.
Furthermore, it supports equitable access to finance for women-led
SMEs and strengthens the financial sector in Montenegro and the
Western Balkans.
During the signing ceremony in Podgorica, Remon Zakaria, Head of
EBRD in Montenegro, stated: “We are excited to introduce the SME Go
Green program with our long-standing partner, NLB Banka, which has
been instrumental in promoting women’s empowerment and now actively
supports the green transition of Montenegro’s economy. This
initiative will help businesses access finance for green
investments, aligning their products and services with EU climate
and environmental standards.”
Since Montenegro became an EBRD member in 2006, the Bank has
invested 906 million euros in 94 projects across the country,
prioritizing competitiveness, green initiatives, and regional
integration.
