The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral investor, recently agreed to loan EUR 2 million (USD 2.18 million) to NLB Banka Podgorica, a Montenegro-based bank named for its Slovenian affiliate Nova Ljubljanska Banka (NLB). As part of EBRD’s Women in Business Programme, the loan is to be used to support female-led businesses in Montenegro, especially small and medium-sized enterprises (SMEs). As of 2020, Women in Business is active in 18 countries.
Founded in 1905, NLB Banka Podgorica is a member of NLB Group, a financial group based in Slovenia. As of 2019, NLB Group operated in 14 countries, serving 1.8 million active customers, earning a net profit, after taxes, of EUR 201.8 million (USD 216.9 million).
Founded in 1991, EBRD seeks to support a “transition to open, market economies, whilst fostering sustainable and inclusive growth” in 38 countries in Central Asia, Eastern Europe and North Africa. It does this by providing business advice, supporting trade finance, and investing debt and equity in funders of MSMEs. With a focus on “the promotion of private and entrepreneurial initiative,” the bank plans to disburse about EUR 8 billion (USD 8.6 billion) during 2020 to grow its portfolio to about EUR 48.5 billion (USD 52.4 billion). EBRD’s shareholders comprise 69 countries plus the EU.
Sources and Additional Resources
EBRD press release
https://www.ebrd.com/news/2020/nlb-podgorica-joins-ebrds-women-in-business-programme-in-montenegro.html
NLB Banka Podgorica homepage
https://www.nlb.me
NLB Group description
http://www.nlbskupina.si/o-nlb-skupini
NLB Group company list
http://www.nlbgroup.si/nlb-group-companies
NLB Group annual report 2019
https://www.nlb.si/nlb/nlb-portal/eng/investor-relations/financial-reports/2019-ufs-eng-final_m.pdf
EBRD Women in Business Programme homepage
http://www.ebrdwomeninbusiness.com
EBRD description
https://www.ebrd.com/who-we-are.html
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