PROJECTS IN MONTENEGRO

Montenegro: Credit Guarantee Fund
EBRD, Government of Montenegro

2021 - 2026

Crimson is contracted to assist the Government of Montenegro (GoM) and the European Bank for Reconstruction and Development (EBRD) to establish and operationalize a national credit guarantee fund – the Montenegro Credit Guarantee Fund (MCGF). The MCGF is designed to be an independent, long term, revolving and sustainable entity that will improve access to finance for MSMEs and under-served businesses.

During Phase 1 of the Project, Crimson completed a detailed feasibility study and developed the roadmap and framework for the design, structure, implementation and operationalization of MCGF, and drafted the Law on the Establishment of the Montenegro Credit Guarantee Fund.  

During Phase 2 of the Project, Crimson is providing technical support to operationalize MCGF, including development of the law on the MCGF, development of a business plan that presents the business case for MCGF’s long-term sustainability, development of user requirements and technical specifications for the MCGF’s MIS, training and on-boarding financial institutions on MCGF, and drafting the MCGF’s charter, policies and procedures.MCGF.