13.03.2025.
The Croatian Bank for Reconstruction and Development (HBOR) continued to invest intensely last year and supported more than 3,000 projects exceeding, in total, EUR 1.17 billion, thus confirming its continued commitment to providing financial support to Croatian entrepreneurs, exporters and strategic investors.
In 2024, HBOR placed special emphasis on the promotion of new investments and the provision of financial solutions for entrepreneurs in conditions of market uncertainty, as demonstrated by an increase in the share of investment loans that rose to 88 percent of total loans committed in 2024. This continued the positive trend from 2023, when the share of investment loans had equalled 65 percent.
The majority of the borrowers were private business entities, to whom 2,580 loans were committed, accounting for 95 percent of total loans committed. The total amount of funds committed reached almost EUR 800 million, of which EUR 548 million was approved to micro, small and medium-sized enterprises.
Last year, under the NRRP, HBOR implemented loan programmes for small and medium-sized enterprises with difficult access to finance, it subsidised interest rates and issued guarantees for investment projects of mid-cap and large business entities. The objective of these programmes was to encourage digitalisation, green transition and a climate and energy neutral economy. In this segment, EUR 257 million of new investment loans were approved in 2024, and the implementation of all financial instruments was aligned with the Do No Significant Harm (DNSH) principle.
Through export finance and export credit insurance programmes, HBOR provided support for Croatian exporters in a total amount of EUR 465 million, which further strengthened their competitiveness in the global market.
In addition, new financial instruments were introduced: the Urban Development Fund and the Sustainable Tourism Loans intended for the financing of investment projects in the public and private sectors. A novelty was the possibility of combining loans with grants in the form of a write-off of a part of the principal of up to 50 percent. At the beginning of 2025, the Production Modernisation Loans programme was launched on the basis of the same principle, whereas a new programme is being prepared: the Energy Efficiency Loans for Entrepreneurs.
Special emphasis was also placed on the development of venture capital market in Croatia. In cooperation with the European Investment Fund (EIF), HBOR launched several initiatives that enabled the financing of fast-growing companies. These activities are part of HBOR's broader strategy aiming to encourage investment in innovative projects and promotion of investment environment in Croatia.
Towards the end of 2024, the Supervisory Board adopted HBOR's new business strategy for the 2025-2029 period and laid the foundations for the bank's further development and the strengthening of its role in the economy. Key strategic goals include the promotion of the development of venture capital market, balanced and sustainable regional development, green transition, internationalisation and strengthened competitiveness of the Croatian economy.
“In 2024, HBOR continued to provide strong support to the Croatian economy by harmonising its financial instruments with the needs of entrepreneurs and market needs. We are particularly proud of the growth in investment loans and support for exporters that are key to strengthening Croatia's competitiveness. HBOR not only ensures access to capital, but also actively participates in the development of financial instruments that contribute to market development and strengthen resilience of the Croatian economy in the long term,” pointed out Hrvoje Čuvalo, President of HBOR's Management Board.
In 2025, HBOR will continue to implement its strategy aiming to strengthen the resilience of the Croatian economy, encourage innovation and develop financial instruments that provide entrepreneurs with favourable terms and conditions of finance.
The Croatian Bank for Reconstruction and Development (HBOR) continued to invest intensely last year and supported more than 3,000 projects exceeding, in total, EUR 1.17 billion, thus confirming its continued commitment to providing financial support to Croatian entrepreneurs, exporters and strategic investors.
In 2024, HBOR placed special emphasis on the promotion of new investments and the provision of financial solutions for entrepreneurs in conditions of market uncertainty, as demonstrated by an increase in the share of investment loans that rose to 88 percent of total loans committed in 2024. This continued the positive trend from 2023, when the share of investment loans had equalled 65 percent.
The majority of the borrowers were private business entities, to whom 2,580 loans were committed, accounting for 95 percent of total loans committed. The total amount of funds committed reached almost EUR 800 million, of which EUR 548 million was approved to micro, small and medium-sized enterprises.
Last year, under the NRRP, HBOR implemented loan programmes for small and medium-sized enterprises with difficult access to finance, it subsidised interest rates and issued guarantees for investment projects of mid-cap and large business entities. The objective of these programmes was to encourage digitalisation, green transition and a climate and energy neutral economy. In this segment, EUR 257 million of new investment loans were approved in 2024, and the implementation of all financial instruments was aligned with the Do No Significant Harm (DNSH) principle.
Through export finance and export credit insurance programmes, HBOR provided support for Croatian exporters in a total amount of EUR 465 million, which further strengthened their competitiveness in the global market.
In addition, new financial instruments were introduced: the Urban Development Fund and the Sustainable Tourism Loans intended for the financing of investment projects in the public and private sectors. A novelty was the possibility of combining loans with grants in the form of a write-off of a part of the principal of up to 50 percent. At the beginning of 2025, the Production Modernisation Loans programme was launched on the basis of the same principle, whereas a new programme is being prepared: the Energy Efficiency Loans for Entrepreneurs.
Special emphasis was also placed on the development of venture capital market in Croatia. In cooperation with the European Investment Fund (EIF), HBOR launched several initiatives that enabled the financing of fast-growing companies. These activities are part of HBOR's broader strategy aiming to encourage investment in innovative projects and promotion of investment environment in Croatia.
Towards the end of 2024, the Supervisory Board adopted HBOR's new business strategy for the 2025-2029 period and laid the foundations for the bank's further development and the strengthening of its role in the economy. Key strategic goals include the promotion of the development of venture capital market, balanced and sustainable regional development, green transition, internationalisation and strengthened competitiveness of the Croatian economy.
“In 2024, HBOR continued to provide strong support to the Croatian economy by harmonising its financial instruments with the needs of entrepreneurs and market needs. We are particularly proud of the growth in investment loans and support for exporters that are key to strengthening Croatia's competitiveness. HBOR not only ensures access to capital, but also actively participates in the development of financial instruments that contribute to market development and strengthen resilience of the Croatian economy in the long term,” pointed out Hrvoje Čuvalo, President of HBOR's Management Board.
In 2025, HBOR will continue to implement its strategy aiming to strengthen the resilience of the Croatian economy, encourage innovation and develop financial instruments that provide entrepreneurs with favourable terms and conditions of finance.