The Development Bank of Montenegro achieved a 35% increase in placements in the first quarter of this year compared to the same period last year when it operated under the name Investment and Development Fund (IRF).
Nikola Tripković, Chairman of the Management Board, announced that the bank plans to provide stronger support to Montenegro’s economy this year, with a total of 200 million euros allocated, which is 33% more than last year’s plan.
This plan will be implemented through 16 financial support programs with a focus on government development priorities. The bank’s offerings include favorable terms for entrepreneurs, micro, small and medium-sized businesses, with extended repayment periods and grace periods, as well as fixed interest rates.
The Development Bank has also introduced special benefits, such as reduced interest rates for businesses in underdeveloped regions, especially in northern municipalities. Tripković emphasized that the focus will be on investment projects, aiming to improve citizens’ living standards and reduce unemployment.
He stressed that the bank’s primary goal is not profit but contributing to the development of the Montenegrin economy by financing sustainable, high-quality business ideas. Despite undergoing transformation, the bank maintained uninterrupted operations, ensuring the continuation of projects started under the IRF.
The bank also aims to strengthen its market presence, focusing on customer-oriented services, proactivity, flexibility, and building strong relationships with clients. In particular, it will support women in business, youth, individual farmers, and other vulnerable groups facing challenges in accessing financial resources.
The Development Bank is focusing on financing priority sectors such as tourism, agriculture, manufacturing, and energy, with an emphasis on supporting micro, small, and medium-sized enterprises. The goal is to foster local production, reduce imports and increase exports, creating new jobs through collaboration with relevant ministries, the private sector and local governments.
