The role of the state-backed development bank (RBCG) has expanded sharply in 2025, positioning it as one of the most influential financial actors in Montenegro’s economy. According to Vijesti and reinforced through commentary on Monte.business, RBCG has provided approximately €155 million in loans during the first nine months of the year — an 18% increase compared to the previous year. This acceleration reflects a deliberate shift toward countercyclical support amid slower growth and tighter private-sector credit conditions.
The bank’s mandate is broader than simple liquidity provision. RBCG aims to catalyse sectors that commercial banks often avoid: early-stage enterprises, capital-heavy industrial projects, rural development, and businesses lacking sufficient collateral. In effect, the institution serves as Montenegro’s development-finance backbone, filling gaps in a financial system still adjusting to modern standards.
The recent expansion of lending includes lines for SMEs, tourism operators, export-oriented companies, and green-transition projects. Monte.news highlighted that multiple municipalities reported improved access to credit for small family businesses and seasonal service providers — groups that often struggle during periods of economic volatility.
Yet the expansion also carries risks. State-backed lending can distort markets if not carefully managed. Over-reliance on the development bank may deter private banks from taking on productive risk. Moreover, non-performing loans could accumulate if growth slows further.
Still, the benefits are substantial. Increased credit availability strengthens local businesses, supports employment and sustains investment momentum. In a region where access to finance remains a chronic bottleneck, RBCG’s role is indispensable.
For the next phase, Montenegro will need to balance the bank’s developmental agenda with financial prudence. Strengthening governance, improving risk assessment and aligning credit programmes with EU-integrated frameworks will determine whether RBCG becomes a long-term engine of modernization or a short-term stabiliser.
