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Cooperation creates space for additional support to Montenegrin entrepreneurs, small and medium enterprises
Lovćen banka AD and Triodos Fair Share Fund and Triodos Microfinance Fund, two financial inclusion investment funds managed by Triodos Investment Management from the Netherlands , signed a bilateral loan agreement in the amount of EUR 5 million for further support of Montenegrin entrepreneurs, small and medium enterprises.
Lovćen banka focuses on small and family businesses in Montenegro. Small projects engage the resources of our country, thus developing capacities in the fields of tourism, agriculture, food production, forestry and wood processing. This debt facility will significantly strengthen and support projects in these fields, and improve access to fair and transparent finance to underserved businesses
Through cooperation with Triodos IM, Lovćen banka AD receives significant international support from a mission-aligned partner. We believe that our foreign partners, after a thorough analysis of the Montenegrin banking market, have recognized in us a Bank that works closely with people and businesses, who creates individual solutions according to the needs of its clients, establishes long-term relationships and is recognized for quick decision making. These are the values that Triodos IM seeks when choosing their partners and has recognized them as a comparative advantage of Lovćen banka.
We are proud that from now on Triodos Investment Management is part of the Lovćen family.
- [Rosa Sarkeyeva, Regional Manager for Eastern Europe, the Caucasus and Central Asia: “This transaction marks our first in years investment in Montenegro. We wholeheartedly support Lovcen banka’s mission to increase its outreach to small-scale entrepreneurs and family businesses in Montenegro, especially those in rural areas, which are embedded in local communities and instrumental in the country’s social and economic development. Among Lovcen banka’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.”
About Triodos Investment Management
Triodos Investment Management (Triodos IM) connects a broad range of investors who want to make their money work for lasting, positive change with innovative entrepreneurs and sustainable businesses doing just that. In doing so, Triodos IM serves as a catalyst in sectors that are key in the transition to a world that is fairer, more sustainable and humane. It has built up in-depth knowledge throughout 25 years of impact investing in sectors such as Energy & Climate, Financial Inclusion and Sustainable Food & Agriculture, and also invests in listed companies that materially contribute to the transition toward a sustainable society. Triodos IM is a globally active impact investor with 750+ investments in over 50 countries with EUR 4.9 billion in assets under management (as per end of June 2020). It is a wholly owned subsidiary of Triodos Bank NV, which was founded in 1980 in the Netherlands and is a leading expert in sustainable banking globally.
Learn more: www.triodos-im.com
Yours
Lovćen banka and Triodos investment management