The European Fund for Southeast Europe (EFSE) has provided a senior loan of EUR 5 million to its longstanding partner, Alter Modus
, to continue supplying sustainable financing to micro and small enterprises (MSEs) in Montenegro.
As said in the press release, Alter Modus is the leading microfinance institution in Montenegro, with a broad network of 15 branches covering all regions of the country. It caters especially to MSEs that have limited access to funding.
The new loan will support Alter Modus in carrying forward EFSE’s mission to bolster economic development and MSE growth in Montenegro.
– Alter Modus not only practices the industry’s best standards, it is also an institution truly committed to EFSE’s values. This investment will further strengthen our relationship with this valuable partner – EFSE Board Chairman Christoph Tiskens said.
– We are proud to continue our cooperation with EFSE. Together, we are aware of the importance of micro and small enterprises for an economy, and therefore we aim to give them access to financial support in order to facilitate their development – said Ana Kentera, CEO of Alter Modus.