Podgorica, (MINA-BUSINESS) – According to Montenegrin President Jakov Milatovic, the long-awaited adoption of the Credit Guarantee Fund Law marks an important milestone for the future of Montenegro’s economy and for all those who have ideas but lack the funds to bring them to life. 

He explained that the initiative to establish the Fund originated during his term as Minister of Economic Development, as a direct response to the real challenges faced by small and medium-sized enterprises and entrepreneurs who lacked assets to secure loans and often received no support from banks.

“That is why we proposed this piece of legislation back then – to have the state stand behind these businesses and guarantee a portion of their loans. Although this should have long been part of our economic system, we welcome the Government’s recognition of its importance and the Parliament’s decision to adopt the law,” Milatovic posted on his X account.

He described the Credit Guarantee Fund as a tangible and active form of support for entrepreneurs.

“Its purpose is clear – to guarantee part of the loans extended by banks to small and new businesses. This reduces the risk for banks and opens doors for new ideas, startups, and small family enterprises. This measure is especially vital for young people, women entrepreneurs, and anyone eager to work but lacking seed capital,” Milatovic said.