16th December 2009. the presentation of SACE S.p.A. was held, with the topic „Support to Montenegrin enterprises for purchasing new technologies/machines from Italy“, organized by the Directorate for development of small and medium sized enterprises in cooperation with the Export Credit Agency from the Republic of Italy -SACE S.p.A, an the Directorate’s premises.

There were 20 successful Montenegrin enterprises presented, from different sectors: food processing industry, metal, wood industry, mattress production, aluminium production, etc.

Italy is the most important potential European market for Montenegro, as well as for the other West Balkan countries. It has very good economic relations with countries in the region, regarding investments in different industries.

Mr. Zoran Vukčević, director of the Directorate for development of small and medium sized enterprises, H.E. Mr. Sergio Barbanti, Ambassador of the Republic of Italy in Montenegro, and Ms. Silvia Minotti, representative of SACE S.p.A. Agency participated the presentation.

Ms. Minotti presented the model of support to Montenegrin companies that will have possibility to purchase the equipment under the following conditions: up to 5 years repayment time, 3 % annual interest rate. The special convenience of this program is that Montenegrin enterprises will not have to issue the Letter of Credit, or provide cash money as a deposit /collateral for the transaction.

Montenegrin enterprises were highly interested in proposed cooperation model with the SACE S.p.A. Agency. Therefore, it was agreed that interested enterprises refer first to the Directorate for SME Development, describing their cooperation requests, after which the Directorate will consider the further realization of credit arrangement with the SACE S.p.A. Agency.

The same day, at the premises of Jadranmost, Mr. Vito Niti, president of the Guarantee Consortium Fidindustria Puglia, had meetings with interested enterprises, aiming at considering possibilities for issuing guarantees for Montenegrin banks that are financially supporting Montenegrin enterprises to purchase machines from Italian companies, which are members of Fidindustria.