Central Bank of Montenegro (CBCG) Governor Irena Radović discussed expanding access to business finance with Ekaterina Solovova, the newly appointed head of the European Bank for Reconstruction and Development (EBRD) office in Montenegro. The meeting examined wider use of portfolio risk sharing instruments, supported by the EBRD and European Union guarantees, to increase bank lending to micro, small and medium enterprises (MSMEs). Potential applications include financing for women and young entrepreneurs, green investments and businesses in less developed areas. These discussions took place alongside consideration of the EBRD’s 2026–2031 strategy for Montenegro, including its priorities for private sector competitiveness and the green transition. A central focus was translating the CBCG’s existing work on financial inclusion into financial products for women entrepreneurs. The WE Finance Code Montenegro initiative, coordinated by the CBCG with EBRD support, now brings together 28 institutions, with signatory banks representing 93% of banking sector assets. Its public interactive platform tracks access to finance for businesses owned by women. An October review had shown approximately 16% growth in the value of loan portfolios for MSMEs owned by women in 2025. The next stated goal is to use the available data to develop financial products and expand access to finance, building on the monitoring framework rather than introducing a new lending scheme.
Central Bank of Montenegro discusses wider EBRD cooperation on business finance and women’s entrepreneurship
Central Bank of Montenegro Governor Irena Radović and EBRD Montenegro office head Ekaterina Solovova discussed wider use of portfolio risk sharing to expand business lending. They also reviewed the WE Finance Code initiative, whose signatory banks represent 93% of banking sector assets. The next goal is to translate financing data into products and greater access to finance for women entrepreneurs.