Croatia’s government decided to allow the operator of the Zagreb airport, MZLZ, to borrow €19.5mn from the European Bank for Reconstruction and Development (EBRD), it said in a statement on its website.
The company needs fresh cash to meet its liquidity needs as it has suffered severely from the coronavirus (COVID-19) pandemic.
In 2020, the turnover of the Zagreb airport shrank 73% y/y to €58mn.
MZLZ is restructuring Zagreb airport’s costs and was allowed by its creditors to borrow the €19.5mn from the EBRD. However, the company will have to ban the distribution of profits to shareholders, as well as to freeze payment of a €38.5mn debt of concession-holders to shareholders.
Related Articles
Construction work on $4.6bn Trans-Afghan Railway could reportedly be under way within six months
Construction work on the proposed Trans-Afghan Railway could be under way within six months, while the project could cost around $4.6bn to deliver and cut shipping transit times from Uzbekistan to ... more
Uzbekistan’s banking sector becoming more resilient, says Fitch
Uzbekistan’s banking industry is becoming more resilient, with the sector underpinned by ongoing structural reforms, stronger regulation and improving governance, ... more
Citibank opens Tashkent representative office
Citibank has officially established a presence in Uzbekistan with the opening of a representative office in Tashkent, according to a statement from the Central Bank of Uzbekistan (CBU). ... more