Green For Growth Fund establishes partnership with Lovćen Banka to strengthen sustainable lending

This partnership for GGF means establishing cooperation with a new entity, which demonstrates the fund's commitment to strengthening new relationships.

The Green for Growth Fund (GGF) has partnered with Lovćen Banka in Montenegro by signing a €3 million loan agreement. This credit line will enable Lovćen Banka to expand its green loan portfolio by providing dedicated financing to companies investing in sustainable practices and small-scale renewable energy projects, strengthening the resilience and energy independence of the region.

This partnership for GGF means establishing cooperation with a new entity, which demonstrates the fund's commitment to strengthening new relationships. In addition, with this strategic agreement, GGF expands partnerships with investors within its region of operation, strengthening its presence and influence in promoting sustainable development.

Simon Gupta, Chairman of the Board of Directors, said: “We are delighted to welcome Lovćen Banka as a new partner. This investment is perfectly aligned with our goals in climate action and sustainable development. By supporting businesses in their efforts to adopt greener practices and renewable energy solutions, we are taking significant steps towards a more sustainable future.”

“We are pleased to join the mission of the Green for Growth Fund. By entering into cooperation with GGF, Lovćen banka will strengthen its efforts to support the sustainable development of companies in Montenegro, helping them continue to implement green solutions and advance renewable energy projects.” – said Miloš Miketić, President of the Board of Directors of Lovćen banka.

About GGF-u

The Green for Growth Fund promotes energy efficiency and renewable energy in South-East Europe, the Caucasus, the Middle East and North Africa. By providing refinancing to local financial institutions, the GGF helps businesses and households access sustainable energy solutions, promoting energy efficiency and reducing carbon emissions. The GGF was launched as a public-private partnership by the European Investment Bank and the German KfW development bank, with financial support from the European Union, BMZ and other international investors. Finance in Motion GmbH, Germany, is the advisor to the GGF.

For more information about the Green for Growth Fund, please visit: www.gff.lu

About Lovćen Bank

Lovcen Banka focuses significant efforts on improving small and medium-sized businesses in Montenegro, working closely with its clients and providing the best solutions to support their business and development. Establishing long-term relationships and making quick decisions are precisely the values ​​that our clients value and recognize as our comparative advantage in the market. For more information, visit: www.lovcenbanka.me

O Finance in Motion

Finance in Motion is an asset manager with a global impact focused exclusively on sustainable development in emerging markets and economies. The company structures, manages and advises investment funds that bring together public and private investors to address climate change issues, strengthen biodiversity conservation, foster sustainable use of natural resources, improve livelihoods and promote market opportunities.