EBRD Launches Women in Business Program in Montenegro

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Sep 2019
Montenegro, September, 25 2019 - In addition to financing, women entrepreneurs will also receive business advice to make their businesses more competitive, as well as training, mentoring and network-building services.

The European Bank for Reconstruction and Development (EBRD) is launching its Women in Business programme (WiB) in Montenegro, it said.

Montenegrin microfinance institution Alter Modus has become the first local partner to join the programme, which supports women entrepreneurs to access finance and know-how to grow their businesses, the EBRD said in a statement on Tuesday.

In an initial phase, the EBRD will provide a total of 1 million euro ($1.1 million) to Alter Modus to support women-led micro, small and medium-sized enterprises (MSMEs). A focus will be supporting underserved SMEs, especially those operating outside the capital city of Podgorica, the EBRD said.

"Support to Women in Business in the form of finance and advice can have a major impact on the economy of Montenegro. We are very pleased to launch the programme today and to expand this product in the country," said Jaap Sprey, EBRD Head of Montenegro.

In addition to financing, women entrepreneurs will also receive business advice to make their businesses more competitive, as well as training, mentoring and network-building services.

Since it began investing in Montenegro in 2006, the EBRD has financed 60 projects worth 571 million euro in the country and provided over 100 Montenegrin women-led MSMEs with business advice and trainings.



Source : SeeNews
 

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