In ethnic ambiance of family business “Cornelian”, MFI Alter Modus and Tourist organization of Nikšić presented new brochure “Domestic from Nikšić”. The brochure presents 15 renowned producers from the area of Nikšić municipality.

“By supporting these hard-working people and their products we empower local community and Montenegrin economy as well, which is in accordance with the strategic goals of our company. One more our joint project is worth mentioning – Fair of Local Projects, which celebrated its Jubilee last year and gathered over 200 local exhibitors”, Velibor Nikolić, Manager of Alter Modus branch in Nikšić, said.

From TO Nikšić they also share satisfaction with the collaboration and the results made.

“Considering the wealth and variety of offer of entrepreneurs from territory of Nikšić municipality, it could be expected that the brochure could be re-issued. Our goal is to have the domestic products, i.e., gastronomic offer from our villages, from our rural areas, in the foreground when it comes to the tourist offer of our municipality. I truly believe that the offer is something authentic and unique. We have very good experience from the tourism fair in Belgrade which took place last weekend, where we had one entire day dedicated to domestic products and the number of visitors and their reactions are clear indicator what our gastronomic offer is like and in which direction we should go when it comes to businesses of our entrepreneurs”, Mitar Barać, director of TO Nikšić emphasized.

Brochure in e-form can be downloaded HERE.

Micro-credit financial institution Alter Modus opened door of its new branch office in Plav at the address, Medunska, 1.

Team of professionals is available to existing and new customers willing to provide all the necessary information about terms of crediting, on weekdays, from Monday to Friday, between 8 a.m. and 4 p.m.

Jelena Stojanović, manager of the branch in Plav said that with opening the new branch office, financial support to the citizens of the northern region but also the local economy would be additionally enhanced.

”From the very first day the door of our branch in Plav is open for all of you. We are here to respond to your needs, in a swift, simple and manner adapted to you, and to help with reaching your personal and business goals. We will do everything to support the quality business ideas of both micro and small enterprises and independent entrepreneurs, and by doing so to accelerate further development of entrepreneurship in Plav. We will be your support for meeting financial needs concerning initiating, development of and maintaining business, but also for improvement of life quality” Stojanović said.

• Investment to increase access to energy efficiency (EE) lending for entrepreneurs in Montenegro
• Annual primary energy savings of approximately 5,800 MWh expected and CO₂

Luxembourg and Podgorica, August 02, 2019 – The Green for Growth Fund (GGF) has provided a senior loan of EUR 1.5 million to the microfinance institution Alter Modus. This transaction further broadens and diversifies the fund’s geographic and operational scope with financing for Montenegro’s growing energy efficiency (EE) market. The new investment will support the microfinance institution in further expanding its EE lending operations in a responsible manner.

Alter Modus is the leading microfinance institution in Montenegro, serving more than 22,000 clients through a network of 15 branches covering all regions of the country. The new loan will allow Alter Modus to continue on‐lending to its existing clients for energy and emission reduction measures at residences and businesses, mostly for improving buildings’ thermal performance through roof and wall insulation as well as replacement of windows and doors. Along with the loan, the GGF is providing Alter Modus with technical assistance to increase the institution’s expertise in EE lending.

GGF Chairman Olaf Zymelka stated: “The GGF is delighted to expand its partnership with Alter Modus, an institution that is strongly committed to providing green financing to achieve positive social and environmental impact. After the first GGF funding amounting to roughly EUR 3.1 million was well utilized, we are convinced of further success with this second investment.”

Alter Modus CEO, Ana Kentera stated: “The potential for investing in energy efficiency projects in Montenegro is growing year by year. By sensitizing the public on the benefits of energy and emission reduction measures, we are hoping to develop the sector in Montenegro. In this way, we affirm our position as a socially responsible institution that has recognized the importance of energy efficiency in raising the quality of life in Montenegro.”

ABOUT THE GGF

The GGF helps reduce the use of energy and resources and prevent CO2 emissions. It pursues this goal by providing dedicated financing to businesses and households across 19 markets in the Southeast Europe Region including Turkey, the European Neighborhood Region-East, and the Middle East and North Africa. By using a blended finance structure and working through local partner institutions, the GGF is able to raise awareness and implement green finance activities. The fund combines its financial offering with tailored technical assistance that helps build capacity and which brings energy efficiency measures, renewable energy, and improved resource management toward the mainstream. In addition, by managing the environmental and social (E&S) risks associated with its investments, the fund sets standards for its partners and supports them to enhance their own E&S management systems, as required.

The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Management & Consulting Services GmbH, Frankfurt am Main acts as the technical advisor.

For more information see www.ggf.lu and follow us on Twitter @GreenGrowthFund

ABOUT ALTER MODUS

MFI Alter Modus Ltd. is the largest micro-credit financial institution in Montenegro, specialized in loans to entrepreneurs for investments in growing their businesses as well as to households for home acquisition and/or improvement. Founded with the strategic objective to be the first choice of micro and small businesses throughout Montenegro for financing their needs. Alter Modus successfully engaged in providing microcredit services for more than 19 years in Montenegro, has its head office located in Podgorica and operates through 18 branches/sub-brunches/part-time offices across the country, serving at the moment over 20,000 clients.

 

Media contact GGF

Merle Römer

Manager, Marketing & Communications

Phone: +49 (0)69 271 035-171

E-mail: [email protected]

 

Media contact ALTER MODUS

Snežana Božović

Phone: +382(67) 621 896

E-mail: [email protected]

 

 

Please be informed that during the forthcoming holidays, Alter Modus’ offices will be closed down on 26th and 27th April and 1st and 2nd May.
We wish you happy holidays!