The European Investment Bank (hereinafter: EIB) is the long-term financing institution of the European Union and its mission is to help implement the European Union’s policy objectives by financing sound business projects. In addition to promoting projects of the EU member states, EIB also finances investments in future member states and partner countries that contribute to the strengthening of European integration.
Hrvatska banka za obnovu i razvitak (hereinafter: HBOR) started its co-operation with EIB in 2001. So far, altogether eight Finance Contracts have been signed.
EIB was among the first banks willing to provide support to Croatian small and medium-sized entrepreneurs (hereinafter: SMEs) in overcoming the effects of the global financial crisis. In 2009, EIB was the first international financial institution to recognise the need and to timely grant HBOR a loan of EUR 250 million for the financing of SMEs at favourable terms and conditions for various purposes, among which the financing of permanent working capital was the most significant one. The successful and promising co-operation between EIB and HBOR was continued in 2010, when a new Finance Contract in the amount of EUR 250 million was signed and in 2012, when two new Finance Contracts in the total amount of EUR 250 million were signed. The loans were intended for financing SMEs, projects of medium-sized companies, small and medium infrastructure projects in the public sector and investments in the industry sector, particularly in the fields of energy, environmental protection, health care and education in the Republic of Croatia. With regard to activities related to the sectors of environmental protection and energy efficiency, the EIB works closely with the European Commission and other bodies of the European Union on pre-accession instruments.
HBOR on-lends EIB loans, in cooperation with commercial banks within the framework of existing loan programmes. More detailed information can be obtained from your commercial bank or directly from HBOR.
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