Better Business Results with EU Funds Conference organised by HBOR and HGK-EEN took place on 8 May 2018 with an objective of introducing current and future possibilities of project finance from EU funds. The Conference gathered 150 businessmen, representatives of ministries and agencies, consultants and commercial banks.
The opening addresses were given by Ms Spomenka Đurić, State Secretary in the Ministry of Regional Development and EU Funds, Mr Marko Jurčić, Advisor to the President of the Croatian Chamber of Economy, and Mr Hrvoje Čuvalo, Member of the Management Board of HBOR.
Financial instruments implemented by HBOR provide favourable sources of finance
Participants in the Conference were informed about the EU financial instruments, their role in the actual financial perspective, their current results and opportunities as well as about the future activities in this area and the new credit line called “Investment Loans for Rural Development”.
At the moment, HBOR implements two financial instruments: “ESIF Loans for Energy Efficiency in Public Sector Buildings” and “ESIF Growth and Expansion Loans”, the latter of which is intended for small and medium-sized enterprises and is implemented through commercial banks. Its main feature is the financing of small and medium-sized enterprises at favourable interest rates without charging the usual banking fees.
HBOR has also been developing new financial instruments called: “ESIF Loans for Public Lighting” and “ESIF Loans for Energy Efficiency in Private Sector”, and it has been stressed during the Conference that the financial instrument intended for farmers called “Investments Loans for Rural Development” will be available towards the end of this year.
Through these instruments, HBOR offers favourable sources of finance to farmers and other entrepreneurs as well as to the public sector, thus encouraging their further development.
Financing of EU projects at 1.7 percent interest rate
Topics discussed at the Conference covered current EU tendering procedures in the area of small and medium-sized enterprises, difficulties in the process of submitting tenders for “Construction of and Equipment for Manufacturing Facilities of SMEs”, announced invitations to tender in the field of agriculture and rural development, activities of competent institutions in the future periods, HBOR’s role in the co-financing of EU projects and experiences of entrepreneurs whose projects were co-financed by EU funds.
It was pointed out that HBOR had financed more than 650 EU projects in a total amount exceeding three billion five hundred million kuna. With an objective of encouraging faster drawing-down of available funds, interest rates were reduced and entrepreneurs can (co)finance their EU projects with HBOR’s funds at an interest rate as low as 1.7 percent this year.