Participants from Croatia and the EU Gathered at Conference on Smart Cities and Islands

The Croatian Bank for Reconstruction and Development (HBOR) participated in one-day conference on smart investments entitled „Investment Platforms for Support to Smart Cities and Islands in Europe” organised by the Ministry of Regional Development and EU Funds (MRRFEU) and the European Investment Bank (EIB).

The Conference brought together many relevant participants, among them the Minister of Regional Development and EU Funds Gabrijela Žalac, Vice-President of the European Investment Bank Vazil Hudák, heads of local and regional government units, government bodies as well as institutions from the European Union and the region.

Implementation of projects based on new information and communication technologies

The development of smart cities and smart islands as a new concept aims at implementing the projects based on new information and communication technologies (ICT) and partnerships with several interested parties, and addressing the key social, climate, energy, security, demographic and welfare challenges.

More than 800 infrastructure projects financed by HBOR so far

Tamara Perko, President of the Management Board of HBOR, as a participant in the panel, emphasised HBOR's role in the financing of infrastructure investments, financing of projects co-financed by the EU funds, both public and private sectors, as well as the results achieved through the implementation of financial instruments. HBOR has financed more than 800 infrastructure projects so far, and the benefits of utilising financial instruments for investments in energy efficiency of public sector buildings and public lighting renovation were particularly emphasised.

Funds for the preparation of project documentation for energy efficiency projects

In this context, the initiation of the „ELENA“ programme implementation worth more than EUR 2 million was announced. By these funds, external experts will be financed, who will prepare project documentation for investments in energy efficiency and renewable energy resources eligible for final beneficiaries. The prepared project documentation will be used for the submission of loan applications under the HBOR credit lines encouraging energy efficiency, but for other sources of finance as well.

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In September 2018, the Ministry of Regional Development and EU Funds (MRRFEU) and the European Investment Bank (EIB) signed a consultancy contract for the establishment of the first investment platforms in the Republic of Croatia. This will be preceded by a number of preparatory activities like in other countries. For this purpose, EIB hired external experts to assist possible applicants in the preparation of the project base that would, after the establishment of the platforms, be ready for applying to it. The Croatian Bank for Reconstruction and Development will be MRRFEU's partner in the creation and implementation of investment platform.