Triodos Fair Share Fund and Triodos Microfinance Fund have provided a EUR 5 million debt facility to Lovćen banka in Montenegro, which largely targets small and family businesses.

 

Rosanna Sarkeyeva, Regional Manager for Eastern Europe, the Caucasus and Central Asia: “This transaction supports Lovćen banka’s strategy to increase its outreach to small-scale entrepreneurs and family businesses, especially those in rural areas. These businesses are strongly embedded in local communities and instrumental in Montenegro’s social and economic development. Among the bank’s ambitions is to increase its offering in agri-financing and renewables financing, and we would be happy to contribute our knowledge and network to make this happen.”