At the end of 2009, the former Development Fund has been transformed into the Investment and Development Fund of Montenegro and is a joint stock company owned by the state of Montenegro (MoE 2010b: 7). The aim of the institution is to provide incentives for and acceleration of economic development of Montenegro. With the founding of IDF, the Government of Montenegro has provided an efficient support mechanism for economic development, especially having in mind economic and financial crises.

The Fund's activity is defined by approving loans and issuing guarantees, privatization of the remaining portfolio companies, as well as other tasks to ensure support for economic development.

The IDF is faced with an ambitious task of achieving objectives through mechanisms quoted in Article 2 of the Law on Investment and Development Fund of Montenegro:

''The Fund is established to encourage and accelerate the economic development of Montenegro through the following: completion of the privatization of capital acquired in the process of ownership transformation, support to micro, small and medium-sized enterprises and entrepreneurs, support to infrastructure projects, projects of water supply, waste water and protection of environment, as well as financing projects of local, regional and national importance."

In particular, the Fund’s activities encompass the following areas of intervention:

• Support to small and medium enterprises (direct credits, credit lines in cooperation with banks and with their guarantees, and guarantee support);
• Support in financing the infrastructure and environmental projects (credit arrangements, issuing guarantees for realization of investment, redemption of bonds on capital market, public-private partnership, ownership participation in public companies);
• Incentives to exports and employment;
• Privatization of the remaining portfolio companies;
• Effective management of the portfolio of securities and credit portfolio of the Development Fund and the SMEDD.
• Non-financial measures of support (participation of IRF in costs of implementation of specific measures of non-financial support or through development of credit models as instruments of support for business incubators, clusters, science parks, etc.)

Contact

Phone: +382 20 245 973

Fax: +382 20 224 998

Address: Bulevar Revolucije 11, 81000 Podgorica, Montenegro

Contact Persons:

Predrag Poček, Executive Director

Phone: :+382 20 245 933

E-mail: predrag.pocek@irfcg.me

Branislav Janković, Assistant of Executive Director

Phone/Fax: +382 20 224 707

Email:branislav.jankovic@irfcg.me

Nemanja Nikolić, Assistant of Executive Director

Phone/Fax: +382 20 224 933

Email: nemanja.nikolic@irfcg.me