HBOR adjusts the terms and conditions of financing: Lower interest rates in regular programmes after the successful exhaustion of funds under the NRRP
After the successful exhaustion of funds under two financial instruments within the framework of the National Recovery and Resilience Plan (NRRP), the Management Board of the Croatian Bank for Reconstruction and Development made a decision on a reduction of interest rate under its three regular loan programmes, thus ensuring more competitive terms and conditions of financing.
By the end of August 2024, HBOR has successfully used all available funds in the two key financial instruments under the NRRP: Direct loans for Special SME Segments Investment and Interest Rate Subsidies for Loans to Public Sector Entities.
To ensure the continuity of favourable loans, HBOR reduced interest rates in its several regular loan programmes. The interest rate in the programme ‘Youth, Female, Start-Up and Other Special Segments Entrepreneurship’ will from now on be at the level of 2.00% p.a. (fixed), instead of 4.00%. Also, the maximum loan amount was increased to EUR 400,000.00 instead of EUR 300,000.00. In addition to these changes, the programme was extended to all micro, small and medium-sized entrepreneurs who invest in special areas of Croatia, as well as to entrepreneurs who invest in the commercialisation of projects based on research, development and innovation (RDI). In the ‘Public Sector Investment’ programme, specifically in the segment relating to ULRGs, companies, institutions and agencies in their majority ownership and other public sector entities with 100% guarantee of the Republic of Croatia and/or ULRG, interest rate will from now on be at the level of 2.50% p.a. (fixed) instead of 3.20%, i.e. for borrowers belonging to the special areas of the Republic of Croatia 2.40% (fixed) p.a. instead of former 3.10%.
Changes to the ‘EU Projects’ programme relate to loans intended for the public sector, i.e. for ULRGs, companies, institutions and agencies in their majority ownership, and for loans to other public sector entities that are approved with a 100% guarantee of the Republic of Croatia and/or ULRGs. In this case, for directly approved loans, the interest from now on is at the level of 2.50% per annum (fixed), instead of the previous 3.20%.
‘These changes are the result of our commitment to providing continuous support to the Croatian economy. Although we can no longer offer the same financing conditions as under the NRRP, we have found a way to reduce interest rates in our most attractive programmes to maintain favourable conditions for our clients. Our goal remains to provide entrepreneurs and the public sector with the support they need for successful growth and development’ emphasized Hrvoje Čuvalo, President of the HBOR Management Board..
All new conditions apply to applications already received, as well as to those that will be received from 1 September 2024.
By the end of August 2024, HBOR has successfully used all available funds in the two key financial instruments under the NRRP: Direct loans for Special SME Segments Investment and Interest Rate Subsidies for Loans to Public Sector Entities.
To ensure the continuity of favourable loans, HBOR reduced interest rates in its several regular loan programmes. The interest rate in the programme ‘Youth, Female, Start-Up and Other Special Segments Entrepreneurship’ will from now on be at the level of 2.00% p.a. (fixed), instead of 4.00%. Also, the maximum loan amount was increased to EUR 400,000.00 instead of EUR 300,000.00. In addition to these changes, the programme was extended to all micro, small and medium-sized entrepreneurs who invest in special areas of Croatia, as well as to entrepreneurs who invest in the commercialisation of projects based on research, development and innovation (RDI). In the ‘Public Sector Investment’ programme, specifically in the segment relating to ULRGs, companies, institutions and agencies in their majority ownership and other public sector entities with 100% guarantee of the Republic of Croatia and/or ULRG, interest rate will from now on be at the level of 2.50% p.a. (fixed) instead of 3.20%, i.e. for borrowers belonging to the special areas of the Republic of Croatia 2.40% (fixed) p.a. instead of former 3.10%.
Changes to the ‘EU Projects’ programme relate to loans intended for the public sector, i.e. for ULRGs, companies, institutions and agencies in their majority ownership, and for loans to other public sector entities that are approved with a 100% guarantee of the Republic of Croatia and/or ULRGs. In this case, for directly approved loans, the interest from now on is at the level of 2.50% per annum (fixed), instead of the previous 3.20%.
‘These changes are the result of our commitment to providing continuous support to the Croatian economy. Although we can no longer offer the same financing conditions as under the NRRP, we have found a way to reduce interest rates in our most attractive programmes to maintain favourable conditions for our clients. Our goal remains to provide entrepreneurs and the public sector with the support they need for successful growth and development’ emphasized Hrvoje Čuvalo, President of the HBOR Management Board..
All new conditions apply to applications already received, as well as to those that will be received from 1 September 2024.