The Ministry of Finance, the Ministry of the Economy and Sustainable Development and the Croatian Bank for Reconstruction and Development (HBOR) signed the Agreement on Delegated Tasks under the National Recovery and Resilience Plan (NRRP) worth a total of EUR 29.86 million.
With the newly signed Agreement on Delegated Tasks under the NRRP, HBOR is entrusted with the implementation of another financial instrument – Investment in Equity and Quasi-Equity Finance Instruments for micro, small and medium-sized business entities and mid-cap business entities in the total value of EUR 29.86 million. This is the last (the sixth) financial instrument to be implemented by HBOR under the NRRP, and the total value of the tasks delegated to HBOR with the Agreement signed today amounts to EUR 255.5 million.
The start of the implementation of the instrument for equity and quasi-equity finance is planned to take place in 2023. HBOR will cooperate with the European Investment Fund (EIF) in the implementation of the agreement. The investment programme with all the details is planned to be published in the first half of 2023. These types of investments are a key prerequisite for diversifying funding sources, strengthening equity in funding sources for domestic business entities, and strengthening resilience of the financial and economic system to future market disruptions.
The financial instruments to be implemented by HBOR under the NRRP are intended for ensuring favourable terms and conditions of finance aimed at promoting investment activities in the Croatian economy, strengthening competitiveness of domestic business entities, encouraging a successful transition towards green and digital technologies that are the basis of the future sustainability and competitiveness of the Croatian economy.
In accordance with the regulatory framework for the implementation and use of the funds, all investments to be financed under the NRRP must meet the criteria of the principle of not causing significant harm to the environmental and climate goals of the EU (Do No Significant Harm – DNSH).
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