EFSE and MonteCredit sign EUR 2 million facility to expand financing for microentrepreneurs across Montenegro

Mostar, 16 September 2026 – The European Fund for Southeast Europe (EFSE) has signed a EUR 2 million facility with MonteCredit to support micro and small businesses as well as individual entrepreneurs across Montenegro. The financing is designed to strengthen access to finance for entrepreneurs who often rely on smaller-scale investments to establish, sustain, and grow their economic activities.

Under the agreement, at least 50% of the facility proceeds will be dedicated to female microentrepreneurs. The earmarking reflects a joint commitment by EFSE and MonteCredit to help address persistent financing gaps faced by women operating microbusinesses and income-generating activities throughout the country.

Microenterprises represent an important source of livelihoods and economic activity in Montenegro, particularly outside larger urban centers. By increasing the availability of financing for entrepreneurs and small business owners, the facility is expected to support business development, strengthen financial inclusion, and create new opportunities for women seeking to start or expand their own economic activities.

Jasminka Berget, Portfolio Manager of EFSE mentioned: "Some of the most important businesses in local communities start small. Access to even modest amounts of financing can make a significant difference for entrepreneurs looking to purchase equipment, expand services, or formalize their activities. Through our partnership with MonteCredit, we aim to help more entrepreneurs, particularly women, access the financial resources needed to strengthen their businesses and generate sustainable income."

Nikola Načić, CEO Monte Credit added: We are very pleased to strengthen our partnership with EFSE through this new facility. For MonteCredit, this is an important step in expanding our support to micro, small and medium-sized enterprises and entrepreneurs across Montenegro, providing them with better access to finance and helping them invest, grow and develop sustainable businesses. We are especially pleased that a significant part of the financing will support women entrepreneurs, whose businesses make an important contribution to local economies and communities across the country.

 

About EFSE

An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the European Eastern Neighborhood Region. EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors. Finance in Motion Asset Management S.à r.l., serves as EFSE’s Portfolio Manager and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.  

For more information on the European Fund for Southeast Europe, please visit: www.efse.lu  

About Finance in Motion

Finance in Motion structures, manages, and advises almost €4 billion across 10 funds, all classified as SFDR Article 9. These private market funds drive impact for people and planet through regional financial intermediaries, direct investments, advisory and capacity building. Founded in Germany, with local expertise from Latin America to Eastern Europe, it has been investing in emerging markets for over 20 years.  

For more information, please visit: www.finance-in-motion-com    
 

About MonteCredit

MonteCredit, part of VisionFund International, is a microfinance institution in Montenegro providing accessible and responsible financial solutions to individuals, entrepreneurs, and micro, small and medium-sized enterprises. As the second-largest microfinance institution in Montenegro, MonteCredit serves close to 5,000 clients through its network of 12 branches across the country, combining a strong local presence with an in-depth understanding of its clients’ financing needs.

With a particular focus on entrepreneurship and small business development, MonteCredit supports clients in investing in their businesses, creating sustainable sources of income, and pursuing new opportunities for growth. The institution places particular emphasis on agriculture, crafts and other small-scale economic activities, as well as women’s entrepreneurship, recognizing their important role in strengthening local economies, supporting employment and fostering more inclusive economic development.

As part of the VisionFund International network, MonteCredit combines its strong local expertise with the experience and values of an international microfinance network committed to financial inclusion and the economic empowerment of underserved communities.

Through its activities, MonteCredit contributes to greater financial inclusion, economic empowerment and the sustainable development of local businesses and communities across Montenegro.

 

Media Contacts: 

EFSE: Nusha Westhoff 
Director Marketing & Communications 
+49 69 271 035-789 
press@efse.lu

MonteCredit: Bojan Đuranović  
Marketing Officer
+382 67 084 142
bojan_djuranovic@visionfund.org