HBOR Expands Its Regional Presence: New Regional Office in Zadar for Northern Dalmatia
The Croatian Bank for Reconstruction and Development (HBOR) opened the Regional Office for Northern Dalmatia in Zadar. The new office will cover the area of Zadar and Šibenik-Knin Counties, and the office was opened by Hrvoje Čuvalo, President of the Management Board of HBOR, in the presence of Šime Erlić, Minister of Regional Development and EU Funds, Josip Bilaver, State Secretary in the Ministry of Sea, Transport and Infrastructure, Božidar Longin, Zadar County Prefect, and Branko Dukić, Mayor of the City of Zadar. The ceremony was attended by numerous representatives of leading businessmen from Zadar and Šibenik-Knin Counties as well as representatives of commercial banks and local administrations.
Over the past 10 years, HBOR has supported almost 1,200 projects in these two counties totalling more than EUR 635 million. Of this amount, 86 percent related to investment loans, whereas the remaining 14 percent was approved for working capital. As this is a highly touristic area, as many as 77 percent of loans related to service activities, and 23 percent to manufacturing activities.
The activities of the Regional Office will primarily be focused on consulting and informing private and public entities about the ways and possibilities of using HBOR's funds as a source of finance for starting a business or investing in growth and development. The Regional Office will have an important role in the education of entrepreneurs, especially those who are just contemplating entering into entrepreneurship, as well as in the cooperation with local government representatives who, through investments, create preconditions for increasing economic activities.
"For us at HBOR, the extremely high share of investment loans in the past ten years is an excellent indicator of the strong economic development of this region, whereas the share of loans for service activities is a confirmation of the key role of tourism and related service activities as the main drivers of economic activity. We are convinced that there is still room for further growth and development, and that is why we expect that the newly opened Regional Office will contribute to an even better absorption of HBOR's funds, whether in the form of loans, guarantees or export credit insurance," said Hrvoje Čuvalo, President of the Management Board HBOR on the occasion of the opening of the new Regional Office in Zadar.
"The opening of HBOR’s Regional Office in Zadar is an important contribution to the development of the entrepreneurial environment in Zadar and Northern Dalmatia. HBOR is our most important entrepreneurship support bank, which has financed 1,200 projects worth more than EUR 635 million in the area of Zadar and Šibenik-Knin Counties since 2013. A large investment cycle from EU funds is ahead of us, and financial instruments worth altogether EUR 724 million will be placed through HBOR. Today's opening of the Regional Office will make the funds even more available to entrepreneurs from this area. I congratulate the Bank's Management Board and everyone else who contributed to improving the quality of the entrepreneurial climate in Northern Dalmatia," said Minister Erlić.
HBOR’s Regional Office for Northern Dalmatia is located on the premises of the Zadar County Chamber at Ulica Špire Brusine 16. The newly opened office is the seventh HBOR’s regional office, and Šibenik-Knin and Zadar Counties were under the jurisdiction of the Regional Office in Split until now.
Over the past 10 years, HBOR has supported almost 1,200 projects in these two counties totalling more than EUR 635 million. Of this amount, 86 percent related to investment loans, whereas the remaining 14 percent was approved for working capital. As this is a highly touristic area, as many as 77 percent of loans related to service activities, and 23 percent to manufacturing activities.
The activities of the Regional Office will primarily be focused on consulting and informing private and public entities about the ways and possibilities of using HBOR's funds as a source of finance for starting a business or investing in growth and development. The Regional Office will have an important role in the education of entrepreneurs, especially those who are just contemplating entering into entrepreneurship, as well as in the cooperation with local government representatives who, through investments, create preconditions for increasing economic activities.
"For us at HBOR, the extremely high share of investment loans in the past ten years is an excellent indicator of the strong economic development of this region, whereas the share of loans for service activities is a confirmation of the key role of tourism and related service activities as the main drivers of economic activity. We are convinced that there is still room for further growth and development, and that is why we expect that the newly opened Regional Office will contribute to an even better absorption of HBOR's funds, whether in the form of loans, guarantees or export credit insurance," said Hrvoje Čuvalo, President of the Management Board HBOR on the occasion of the opening of the new Regional Office in Zadar.
"The opening of HBOR’s Regional Office in Zadar is an important contribution to the development of the entrepreneurial environment in Zadar and Northern Dalmatia. HBOR is our most important entrepreneurship support bank, which has financed 1,200 projects worth more than EUR 635 million in the area of Zadar and Šibenik-Knin Counties since 2013. A large investment cycle from EU funds is ahead of us, and financial instruments worth altogether EUR 724 million will be placed through HBOR. Today's opening of the Regional Office will make the funds even more available to entrepreneurs from this area. I congratulate the Bank's Management Board and everyone else who contributed to improving the quality of the entrepreneurial climate in Northern Dalmatia," said Minister Erlić.
HBOR’s Regional Office for Northern Dalmatia is located on the premises of the Zadar County Chamber at Ulica Špire Brusine 16. The newly opened office is the seventh HBOR’s regional office, and Šibenik-Knin and Zadar Counties were under the jurisdiction of the Regional Office in Split until now.