Short description: General project goal is to foster development of entrepreneurship and to open new and develop existing small enterprises. That way is being reduced unemployment, fostered economy development and supplemented structure of Montenegrin economy. Specific aims are: -to reduce unemployment, -to foster development in priority economy branches, -to develop entrepreneurship among women and young persons, -to create entrepreneurial environment, -to increase living standard, -to increase supply of products and services. According to the Open Competition, eligible applicants are individuals (registered unemployed persons, techno – economic surplus workers, individual agricultural producers and entrepreneurs) and legal entities (having status of small enterprise), except those who did not fulfill completely obligations from previously used loans of the kind. Program was designed in a way that for each new job could be received up to 3,068 € (in money and goods), and, financed could be projects having up to 5 new jobs. Repayment term for individual loan users is 3, and for legal entities 2 years. Repayment is being effectuated in semi-annual installments, with interest rate of 3% on the annual level. Grace period is one year. In order to be included in the Self-employment Program, unemployed persons have to express interest for credit funds. These unemployed persons are being directed to participate in a course for Entrepreneurial Learning. It includes two segments – Fostering Self-employment and Offering Basic Entrepreneurship Knowledge. First segment is of the workshop type, adjusted according to the needs of potential entrepreneurs. Seminar is composed of thematic workshops in which groups of 10 to 15 persons learn about entrepreneurship according to the experience method of learning. Providing elementary knowledge about entrepreneurship represents complete cycle of education, from the moment when an applicant receives Decission on the Loan Approval, through informations about rights and obligations based on the Self-employment Program, the most efficient path that leads from the credit approval up to its usage, enterprise registration, employment according to the Law, fundamental financial elements, development of a business plan as a way to justify business idea - up to the basic presumptions to run business successfully. This segment is of clasic lecture type of training. It's aim is to provide potential credit users with solid initial knowledge, needed for runnung the business.

  Achieved results: From 1999, untill beginning of June 2008, in total were approved 8,536 projects, in the value of 42,217,257 €, what enabled opening of 14,062 new jobs

Comment: The Self-employment Program contributed much to the unemployment reduction in Montenegro. It enabled to unemployed persons to use credit funds for entrepreneurial activities under very favourable conditions, what other financial institutions do not offer.