Podgorica, (MINA-BUSINESS) – In this year’s first quarter, the Development Bank of Montenegro saw a 35 percent increase in investments compared to the same period last year, when it operated under the name Investment and Development Fund (IRF).

According to Chairman of the Management Board of the Development Bank Nikola Tripkovic, the Bank plans to provide stronger support to Montenegro’s economy this year, with a budget of €200 million, which is 33 percent more than planned in 2024.

The plan will be implemented through 16 financial support programmes for the Montenegrin business sector, with a focus on development priorities in line with the Government's economic policy.

“We started the year very ambitiously. In the first quarter, we made investments totaling over €46.5 million, 35 percent more than in the same quarter last year. We are offering new support programmes for entrepreneurs, micro, small, medium, and mid-cap companies, with the most favorable financing conditions, including longer repayment terms and the possibility of grace periods, along with fixed interest rates,” said Tripkovic.

He added that the Development Bank had also secured special benefits in the form of incentives, i.e., reduced interest rates for companies carrying out projects in the northern municipalities and those below the national development average in Montenegro.

Tripkovic stated that the Development Bank had already secured a 0.5 percentage point reduction in interest rates for investments compared to last year and that credit conditions would be continuously improved.