The Croatian Bank for Reconstruction and Development (HBOR) signed a EUR 50 million loan agreement with the Council of Europe Development Bank (CEB) in Paris on Tuesday intended to finance projects by small and medium-sized enterprises, local and regional government units and public-sector organisations, the HBOR announced in a statement.
This credit line is different from the previous ones signed with the CEB because it will for the first time enable the financing of public-sector projects, the statement said.
The CEB accepted the HBOR's proposal to extend repayment deadlines for small and medium-sized enterprises from the present 10 years (including up to two years' grace period) to 12 years (including up to two years' grace period).
The HBOR has earlier signed with the CEB three loan agreements in the total amount of EUR 108 million to finance small and medium-sized enterprises.
The HBOR and the CEB began their cooperation in 2001 to promote the sustainable social and economic development of Croatia.
