HBOR Addendum to Business Cooperation Agreement between Osijek-Baranja County and HBOR Signed
Josip Pavković, Member of the Management Board of HBOR, and Josip Miletić, Deputy Prefect of Osijek-Baranja County, signed the Addendum to the Business Cooperation Agreement between Osijek-Baranja County and the Croatian Bank for Reconstruction and Development in Osijek on 4 October 2023. In order to provide most favourable terms and conditions of loans for entrepreneurs and their projects, Osijek-Baranja County, in cooperation with HBOR, has been participating in the implementation of HBOR's loan programmes since 2018, i.e. it has additionally subsidised interest on loans to entrepreneurs by two percentage points.

Josip Pavković, Member of the Management Board of HBOR, pointed out that investments in small and medium-sized businesses were the basis of HBOR's activities.
"HBOR has financed approximately 1,300 projects in the area of ​​Osijek-Baranja County alone in the last 10 years, which means approximately three loans per week. The interest rates in the market are extremely high, and this kind of help is necessary (interest subsidy of 2 percentage points by the County). It will help investors decide to invest, and as investors are present, we see a certain optimism in the market. This is supported by the fact that in Osijek-Baranja County, 77 percent of approved loans are loans for investments, and the rest are loans for working capital. The county subsidy is commendable and has already shown results, and HBOR has also other financial instruments at its disposal, primarily interest rate subsidies under the NRRP funds," said Pavković.

"Owing to these loans and owing to interest rate being co-financed by the Osijek-Baranja County, many production facilities have been built and equipped, and this is why it is important to continue this partnership. HBOR has been financing entrepreneurs for years, and, since 2018, we have additionally co-financed interest rates in our county, which we continue with the objective of further maintaining a positive business climate and continuing investments in our county," said Josip Miletić, Deputy Prefect.

Boris Čagalj, Head of HBOR’s Regional Office for Slavonia and Baranja, invited entrepreneurs to come to HBOR for an initial consultation and praised the cooperation with Osijek-Baranja County.