ESIF Loans for Public Lighting
Borrowers
Units of local government (ULG)Purpose of loans
Energy renovation activities:• dismantling and disposal of lamps and equipment to be replaced;
• installation of lighting and regulation equipment;
• relocation from transformer stations and/or new installation of public lighting control boxes with control, metering and protective equipment;
• installation of new billing and control metering devices for electric energy;
• installation of supplemental lighting posts, correction of geometry and/or cable infrastructure of existing public lighting installations;
• preparation of studies and installation of temporary traffic regulation for the purpose of performing lighting-technical measurements and implementation of public lighting energy renovation activities;
• expert supervision, etc.
Manner of implementation
Direct lendingLoan amount, disbursement period and repayment
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Interest
Interest rate is determined in accordance with the degree of development of the area of investment:| ULG classified in groups I, II, III or IV (supported areas)* or hill or mountain areas** or the islands*** |
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| ULG classified in groups V or VI* |
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| ULG classified in groups VII or VIII* |
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* Pursuant to the Act on Regional Development of the Republic of Croatia (Official Gazette of the Republic of Croatia, Nos. 147/14 and 123/2017) and all subsequent amendments
** Pursuant to the Act on Hill and Mountain Areas (Official Gazette of the Republic of Croatia, Nos. 12/02, 32/02, 117/03, 32/05, 90/05, 80/08, 148/13 and 147/14) and all subsequent amendments
*** Pursuant to the Islands Act (Official Gazette of the Republic of Croatia, Nos. 34/99, 32/02 and 33/06) and all subsequent amendments
Loan application and commitment fee
Under this loan programme, borrowers are exempt from paying all fees that are usually charged on loans committed.Security
As security for due fulfilment of loan obligations, HBOR shall accept bills of exchange and debentures issued by the final recipient – ULG.As an exception, depending on the size and quality of project, HBOR can also consider other collateral customary in the banking operations.
All costs arising out of the establishment and registration of collateral as well as the amendments to the registered collateral are borne by the final borrower and/or the issuer of collateral.
Miscellaneous
On 19 June 2018, the Croatian Bank for Reconstruction and Development and the Ministry of Regional Development and EU Funds entered into the Funding Agreement for the Implementation of Financial Instrument “ESIF Public Lighting Loans”.Pursuant to the above Agreement, the Ministry of Regional Development and EU Funds as the Managing Authority for the Operational Programme "Competitiveness and Cohesion 2014-2020” (OPCC) allocated the contribution of HRK 152 million from the European Structural and Investment Funds (ESIF) to this financial instrument and directly authorised the Croatian Bank for Reconstruction and Development for its implementation. Irregularity reports and complaints on loan rejection decisions made by HBOR can be submitted to the email address: esif.nepravilnosti@hbor.hr.