Setting up a credit guarantee fund would stimulate and accelerate economic activity and also provide chances for businesses that have so far limited or difficult access to the capital.
The economic observer, Mirza Muleskovic, has said the Credit Guarantee Fund should be focusing on women and first-time entrepreneurs in the tourism, agriculture and manufacturing sectors, the RTCG portal reports.
People who have business idea but lack funds to bring it to life from now on will be able to do it through the Fund. The adoption of the Law on the Credit Guarantee Fund creates new possibilities for the Montenegrin industry, whereas a huge step forward has been made in strengthening the economic resilience and providing support for the private sector.
Mr Muleskovic thinks it really is a new chance for businesses.
“We need a credit guarantee fund and the State should promote it in order to diversify our economy. As I’ve said, it’s important to create strong basis, sound policies and ensure good management so that the best projects are selected, thereby encouraging every segment of the Montenegrin economy.”
The initial capital of the Fund amounts to €10 million.
