The “Diaspora Fund” project is concerning the outlining and creation of business cooperation program with Montenegrin diaspora, based on mutual economic interest and creation of favourable conditions for returning emigrants, economic development of Montenegro through new investments and involvement of Montenegrin diaspora in business activities in Montenegro.
The goal is to put in function a huge potentials of Montenegrin diaspora (ideas, knowledge, experience, capital, business relations, political relations, etc.) and on that way to contribute to the economic development of Montenegro. The cooperation will be based on economic interest, partner’s relations and profit as common objective.

Objectives:

• Active involvement of Montenegrin diaspora in economic development of Montenegro by
investing knowledge, experience and capital acquired abroad;
• Providing possibilities for emigrants from Montenegro to return and start their own business, or to develop some current businesses in Montenegro;
• Providing favourable credit lines for returnees in Montenegro;
• Cooperation of Montenegrin SME sector with foreign markets though Diaspora Fund (product placement possibilities, raw materials supplying, etc.)

Tasks:

• Creating Diaspora Fund sources;
• Managing Diaspora Fund sources;
• Disposing Fund sources to the beneficiaries ;
• Coordinating cooperation between Montenegro (Government, SME sector, etc.) and diaspora

Mission:

• Outlining and creation of business cooperation program with Montenegrin diaspora, based on mutual economic interest and creation of favourable conditions for returning of emigrants, economic development of Montenegro through new investments and involvement of Montenegrin diaspora in business activities in Montenegro.

Diaspora Fund is founded by Government of Montenegro – Directorate for development of small and medium-sized enterprises and Crnogorska Komercijalna Bank in an equal share in founding resource structure.

Fund functioning is planned on credit principle, according to the specified dynamic of creation and placement of sources.

In financing of each project the participation of diaspora is anticipated that the Fund founders participate with 40 %, and investors (diaspora) with 60 % of sources.
The Fund mission is to create and place sources for diaspora, and to develop the SME sector in Montenegro.

Realized activities:

• Directorate for development of small and medium-sized enterprises in the frame of Electoral meeting of Alliance of Montenegrin Association in Europe (SCAE), held on 21.May 2005. in hotel »Topolica« Bar, have presented the project proposal »Diaspora Fund«. During this event, the brochures about project have been distributed to the participants, including information about investments in Montenegro, activities and projects of Directorate, etc.

• On the web-page of Montenegro Diaspora Center the presentation of project »Diaspora Fund« was set, and to the Montenegrin Associations the project proposal was sent, as they could give their suggestions, proposals and comments, that the project could be adapted to their interests.