€1.5 million in grants for 24 companies from Montenegro

Podgorica, (MINA-BUSINESS) – The Chamber of Commerce (PKCG) announced that a total of €1.5 million in grants will be allocated to 24 companies from Montenegro under the EmBRACE project.

PKCG stated in a press release that the selection of submitted project applications for the second call of the EmBRACE Small Project Fund (SPF) has been completed. 

The programme is implemented within the Interreg VI-A IPA Croatia – Bosnia and Herzegovina – Montenegro 2021–2027 framework.

The Project Selection Committee unanimously approved funding for 24 small projects.

Under the second call, micro and small enterprises initially had €3 million available.

Due to the large number of high-quality applications, the Small Project Fund beneficiary (SPFB), HAMAG-BICRO, decided to increase the allocation to the maximum available amount for SPF, totalling €4.64 million. 

Out of 117 received project applications, 24 small projects were approved, with a total value of €5.35 million, of which €4.55 million will be provided from European Union (EU) funds.