Croatia’s government gives go ahead for Zagreb airport to borrow €19.5mn from EBRD

By bne IntelliNews May 15, 2021

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

EBRD to lend €60mn to Bulgarian Eurohold subsidiary for acquisition of CEZ’s local assets

The European Bank for Reconstruction and Development (EBRD) said it will lend €60mn to Eastern European Electric Company B.V., a fully owned subsidiary of financial and insurance group Eurohold ... more

Eurasian Development Bank and Eurasian Resources Group sign credit facility extension memo

The Russia-led Eurasian Development Bank (EDB) and Kazakhstan-based Eurasian Resources Group (ERG) signed a memorandum of cooperation during the recently held ... more

World Bank director confirms support to Kosovo to deal with coronavirus pandemic impact

World Bank regional director for the Western Balkans, Linda Van Gelder, reiterated the bank’s support to Kosovo as it deals with the impacts of the COVID-19 pandemic and addresses its long-term ... more