"Cooperation between the Credit Guarantee Fund and the Chamber of Commerce and Industry of Montenegro is an important step towards creating a more efficient system of support for the economy"

The cooperation between the Credit Guarantee Fund and the Chamber of Commerce (PKCG) represents a natural and important step towards creating a more efficient system of support for the economy, their representatives assessed.

The Board of Directors of the Credit Guarantee Fund made its first official visit to the Chamber, sending a clear message that it recognizes the economy and its needs as the key focus of the Fund's future activities.

"Given that the business community has been pointing out challenges in access to financing for years, especially when it comes to micro, small and medium-sized enterprises, the cooperation between the Credit Guarantee Fund and the Chamber of Commerce and Industry of Montenegro represents a natural and important step towards creating a more efficient system of support for the economy," the statement said.

At the meeting with the Vice President of the Chamber of Commerce and Industry of Montenegro, Nikola Vujović, and representatives of the Chamber, the next steps towards establishing the full functionality of the Credit Guarantee Fund were discussed.

"A special focus was on future cooperation between the Credit Guarantee Fund and the Chamber in the area of ​​informing and educating the economy about the opportunities and benefits that the Fund will provide to companies, in order to ensure the greatest possible availability of support to the business community," the statement added.

The interlocutors assessed that the Credit Guarantee Fund represents one of the most important mechanisms for supporting the economy in the coming period, bearing in mind that it will enable easier access to financial resources for companies that have development potential, but difficult access to traditional sources of financing.

The entire process of establishing the Credit Guarantee Fund was supported by the European Bank for Reconstruction and Development (EBRD) and the consulting firm Crimson Capital, whose director Michael Gold attended the meeting and presented the activities to date on establishing the Fund, as well as the results of the functioning of the Credit Guarantee Fund in Kosovo, as an example of good practice.

The Credit Guarantee Fund is expected to start operating at the end of this year, or at the latest at the beginning of next year.