Moody's Investors Service has reported that Croatia's membership of the European Union "will boost the funding granted to Croatian sub-sovereigns by giving them access to the EU's Cohesion and Structural Funds.
This credit rating agency reported in a new Special Comment published on Friday that "this increase in EU financing will particularly benefit the City of Zagreb (Ba1 negative), which is expected to be a large recipient of these funds."
Moody's noted in the report entitled "Croatian sub-sovereigns: EU membership enhances funding opportunities, a credit positive" that as a result of its EU membership, Croatia was scheduled to receive EUR 13.7 billion from these two funds during the 2014-2020 period, compared with the EUR 1.0 billion allocated from 2007 to mid-2013 from EU Instrument for Pre-Accession Fund.
