Representatives of the Croatian Bank for Reconstruction and Development (HBOR) and the European Investment Bank (EIB) on Friday signed a loan agreement worth EUR 250 million which the HBOR will use to finance smaller projects promoted by small and medium-sized enterprises (SMEs), mid-cap companies and municipalities in Croatia.
The loan agreement was signed by EIB vice president Anton Rop and HBOR managing board president Anton Kovacev.
"The loan amount at the same time represents HBOR's biggest debit but it also confirms the fact that HBOR has gained a considerable reputation with special financial institutions. Abroad we are recognized as a crucial factor in the starting of Croatian economy. We remind that in the year 2012 we approved of credits worth 10,23 billion HRK, which is an increase of 56 percent when compared to 2011. The recently obtained funds will additionally help preserve and even create new jobs, which is the key to starting and further development of the Croatian economy,” Kovacev said.
The signing ceremony was also attended by Croatian Finance Minister Slavko Linic.
Since 2001, the EIB has provided loans in Croatia worth some EUR 3.3 billion, including the current loan. The EIB's lending portfolio in Croatia is well balanced and covers all of the country's economic sectors, ranging from basic infrastructure to manufacturing and services, including support for small and medium-sized companies through local financial institutions.
