One Million Euros for Women Entrepreneurs

By , 26 Sep 2019, 13:05 PM Business
“Women in Business” program “Women in Business” program Shutterstock

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The European Bank for Reconstruction and Development (EBRD) has launched the program “Women in Business” to encourage the development of women's entrepreneurship, and a million euros has been provided for this purpose.

The EBRD announced that the microfinance institution Alter modus had become the first local partner to join the program.

“In the initial phase, the EBRD will provide EUR 1 million to Alter Modus to support women-led micro, small, and medium-sized enterprises. The focus will be on supporting small and medium-sized businesses, especially those outside the capital Podgorica," the EBRD said.

The program “Women in Business” supports women entrepreneurs through access to finance and advisory services to help them improve their businesses.

“Since its global launch in 2014, the program has already involved more than 5,000 women entrepreneurs in the Western Balkans through both forms of support - funding and advisory services. In the Western Balkans, the program is supported by donors from the governments of Italy, Luxembourg and Sweden," the statement said.

The EBRD program “Women in Business” has so far provided more than EUR 500 million through credit lines for more than 60,000 SMEs run by women in 18 countries.

Since investing in 2006, the EBRD has financed 60 projects in Montenegro with a total value of EUR 571 million and provided business consulting and training for more than 100 women-run Montenegrin companies.

Text by Marija Mirjacic, on September 25th, 2019, read more at Vijesti

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