COOPERATION BETWEEN HBOR AND EUROPEAN INVESTMENT BANK

The European Investment Bank (hereinafter: EIB) is the lending arm of the European Union, the biggest multilateral financial institution in the world and one of the main financiers of climate action and environmental sustainability. EIB helps the economy, creates jobs, promotes equality and improves lives for EU citizens and for people in developing countries. Extensive information related to the EIB Group support to SMEs can be found on the EIB website www.eib.org.

Through agreements with EIB, HBOR is supporting small and medium-sized enterprises (SMEs) with less than 250 employees, enterprises having less than 3 000 employees (Mid-Caps) on consolidated basis, public sector entities and enterprises having more than 3 000 employees (non-SME and non-Mid-Caps) on consolidated basis by providing access to favourable sources of lower cost of finance and flexible repayment schedules.

Part of the EIB financing is earmarked for climate action and environmental sustainable projects, including sectors like energy efficiency and renewable energy production, sustainable transport and environmental protection, in line with the EIB Group’s Climate Bank Roadmap policy.

The cooperation with the EIB is of utmost importance for HBOR as it provides access to favourable funding, in terms of both pricing and tenor, as it enables financing of working capital and investment. Also, this cooperation has an impact on the Croatian economy as it encourages the development of SMEs, Mid-Caps and public sector entities, aiding the European Union’s transition towards carbon neutrality. Consequently, there are other positive impacts, such as the launch of new products and technologies, the upgrading of infrastructure, the increase in exports, the reduction in unemployment and the strengthening of competitiveness.

HBOR places EIB’s loan funds directly or in cooperation with commercial banks and leasing companies under existing loan programmes; more detailed information and eligibility criteria can be obtained from your commercial bank, leasing company or directly at HBOR.