The fifth package of support measures worth about 160m euros
At the Government session, held on April 29, the fifth package of measures to support citizens and the economy was adopted.
When it comes to supporting the economy, the key novelty in this package is the additional confirmation for credit funds. Due to the problems with the liquidity of the economy, along with the fact that the banking sector is quite liquid, there was a need to additionally support the economy financially.
The support package is defined through a model consisting of four phases. The first phase has already begun, through the Investment and Development Fund, where the economy, and especially micro, small and medium enterprises, will be allocated about 20 million euros.
Another important segment of the assistance package relates to the EUR 40 million credit support provided by the Government through a credit arrangement with the Council of Europe Development Bank CEB.
The realization of the third phase is expected in the third quarter. The third phase refers to the negotiations that the IRF has with the European Investment Bank, and it is a credit arrangement of 150 million.
Within the fourth phase, the state of Montenegro, in cooperation with the European Bank for Reconstruction and Development, will initiate the establishment of a credit guarantee fund, as an important institution that will encourage and enable easier access to finance for the micro, small and medium enterprises segment.