EIB provides EUR 250mn to Croatias HBOR for SME support.

By bne IntelliNews January 28, 2013
The European Investment Bank (EIB) is providing a EUR 250mn loan to the Croatian Bank for Reconstruction and Development (HBOR) to support projects of small and medium-sized enterprises (SMEs), mid-cap companies and municipalities, the EIB said in a statement. The financial resources will be used for financing projects in the areas of industry and services, including tourism, as well as infrastructure projects, promoted by local authorities. The loan will also be used for co-financing projects in the knowledge and technology-intensive sectors, and energy and environmental protection areas. Most of the financial resources (a minimum of 70% of the total amount) will be used for SMEs and mid-cap companies. Financing of projects promoted by the SMEs and mid-cap companies is the core policy objective of the EIB in the country, EIB Vice-President Anton Rop was quoted as saying. The EIB has already granted credit lines to HBOR for the total amount of EUR 1.1bn, including the current loan. The EIB credit line is part of the Joint IFI Recovery Action Plan for growth in Central and South-Eastern Europe. In November, the EBRD, the EIB, the World Bank Group agreed to support Central and South Eastern Europe's economic recovery and growth with over EUR 30bn of joint commitments in the 2013-2014 period. The financing aims to support private and public sector projects, including infrastructure, corporate investment and the financial sector.

Related Articles

Croatian govt to acquire four companies part of 3.Maj shipyard.

The Croatian government decided on Thursday, March 21, to take over the ownership of all four companies part of local shipyard 3.Maj after which the privatisation of the parent company will be ... more

Croatias Dukat to make takeover bid for Slovenias Ljubljanske Mlekarne.

Croatian dairy producer Dukat said it intends to place a takeover bid for the 49.7% stake it does not yet own in Slovenian peer Ljubljanske Mlekarne. Dukats current stake of 50.3% in the ... more

Croatia's construction output down 2.1% y/y in Jan 2013.

Croatia's construction output fell 2.1% on the year in January 2013 after dropping an annual 19.9% a month earlier, the statistics office said, quoting unadjusted data. Working-day adjusted data, ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss