HBOR Supported the Construction of New Public Car Park Garage in Opatija
The loan contract for the construction of the Gorovo car park garage was signed by Hrvoje Čuvalo, President of the Management Board of the Croatian Bank for Reconstruction and Development, and Mladen Sinožić, Member of the Management of the company Opatija 21 d.o.o., on 2 February 2024 in Opatija. The investor in the construction of the Gorovo car park garage is the city company Opatija 21, and the funds are provided through a loan granted by HBOR.
The amount of the loan is EUR 4.9 million at a fixed interest rate of 1.795% per annum. The interest is subsidised from the National Recovery and Resilience Plan. The repayment period is 15 years, 1-year grace period included. In addition to debentures and bills of exchange of the borrower, the City of Opatija provides a guarantee for the orderly repayment of the loan. The City Council of the City of Opatija approved this debt and the guarantee of the City of Opatija, for which the City received the approval of the Minister of Finance, and thus all the conditions for signing the loan contract were met.
“HBOR has supported a large number of development projects in the County of Primorje and Gorski Kotar, more than one billion euros in loans have been approved in the last ten years alone. And, therefore, it is our great pleasure to be a part of this key infrastructure project in the City of Opatija. With the favourable loan terms and conditions that we have provided, including a low interest rate and a long repayment period, this project is an excellent example of how a financially sustainable and economically profitable investment can positively affect the development of the local community,” pointed out Hrvoje Čuvalo, President of HBOR’s Management Board.
“I express my satisfaction with the terms and conditions that HBOR has offered us for the construction of such an important infrastructural facility, a public car park garage that will certainly contribute to solving the need for a large number of parking spaces in Opatija. This is the first contract that the Opatija 21 company directly signs with HBOR, with a reminder that the Marino Cvetković sports hall built in 2013 was financed by loans granted by commercial banks, but also indirectly by HBOR’s funds. Our society expects new investments in the future as well, and we remain open to further cooperation,” said Mladen Sinožić, Member of the Opatija 21 Management.
The Gorovo car park garage will have 221 parking spaces on four floors. Only one floor will be above the ground so that no damage will be done to the surrounding area. The next steps are the signing of the contract with the selected contractor, GP Krka, and the start of works.
The amount of the loan is EUR 4.9 million at a fixed interest rate of 1.795% per annum. The interest is subsidised from the National Recovery and Resilience Plan. The repayment period is 15 years, 1-year grace period included. In addition to debentures and bills of exchange of the borrower, the City of Opatija provides a guarantee for the orderly repayment of the loan. The City Council of the City of Opatija approved this debt and the guarantee of the City of Opatija, for which the City received the approval of the Minister of Finance, and thus all the conditions for signing the loan contract were met.
“HBOR has supported a large number of development projects in the County of Primorje and Gorski Kotar, more than one billion euros in loans have been approved in the last ten years alone. And, therefore, it is our great pleasure to be a part of this key infrastructure project in the City of Opatija. With the favourable loan terms and conditions that we have provided, including a low interest rate and a long repayment period, this project is an excellent example of how a financially sustainable and economically profitable investment can positively affect the development of the local community,” pointed out Hrvoje Čuvalo, President of HBOR’s Management Board.
“I express my satisfaction with the terms and conditions that HBOR has offered us for the construction of such an important infrastructural facility, a public car park garage that will certainly contribute to solving the need for a large number of parking spaces in Opatija. This is the first contract that the Opatija 21 company directly signs with HBOR, with a reminder that the Marino Cvetković sports hall built in 2013 was financed by loans granted by commercial banks, but also indirectly by HBOR’s funds. Our society expects new investments in the future as well, and we remain open to further cooperation,” said Mladen Sinožić, Member of the Opatija 21 Management.
The Gorovo car park garage will have 221 parking spaces on four floors. Only one floor will be above the ground so that no damage will be done to the surrounding area. The next steps are the signing of the contract with the selected contractor, GP Krka, and the start of works.