HBOR Raised EUR 100 Million for Investments by Private and Public Enterprises

Hrvatska banka za obnovu i razvitak and the European Investment Bank (EIB) signed EUR 100 million Finance Contract today. On behalf of HBOR, the Contract was signed by Mrs Tamara Perko, President of the Management Board, and Mr Hrvoje Čuvalo, Member of the Management Board, and, on behalf of the EIB, the Contract was signed by Mr Dario Scannapieco, Vice-President. The cooperation between HBOR and the EIB started in 2001. So far, HBOR and the EIB have signed 18 Finance Contracts totalling EUR 2.53 billion used for the financing of more than 3.5 thousand projects.

Funds  for the financing of activities in the services, manufacturing and tourism sectors

The contract signed today in the amount of EUR 100 million is intended for the financing of investments implemented by Croatian private and public enterprises that employ between 250 and 3 thousand employees. A smaller portion of the loan can be used for the financing of large enterprises (employing more than 3 thousand employees).

The funds are earmarked for the financing of activities in the services, manufacturing and tourism sectors, and part of the funds will be used for the financing of eligible projects in the field of infrastructure, energy and environmental protection.

Favourable and stable terms and conditions of finance

“Such investments are of key significance for increasing the competitiveness of the Croatian economy and fostering economic growth and employment. Favourable and stable terms and conditions of finance are crucial for entrepreneurial investment, and, therefore, the cooperation with the EIB and the favourable sources of finance provided by the EIB are of exceptional importance for us,” stressed Mrs Tamara Perko, President of HBOR’s Management Board, on the occasion of the signing of the Finance Contract.