HBOR has signed a Portfolio Insurance Agreement for exporters’ liquidity loans – COVID – 19 with Erste&Steiermärkische Bank d.d. and Hrvatska poštanska banka d.d. This Agreement will allow for faster and easier approval of new loans for maintaining exporters’ liquidity, including the tourism sector.


Beneficiaries of insurance will be banks that, based on their own criteria and business policies, will approve new loans for liquidity to exporters, including the tourism sector, i.e. to business entities that have generated at least 20% of their income from exports in the last business year, for which the official financial statements are available.


HBOR insures 50 percent of the principle and interest

The banks will, according to the previously agreed eligibility criteria and costs of insurance, independently decide on loans that will be included in the portfolio of loans insured by HBOR with up to 50 percent of the amount of the principal, regular contracted interest, interest during the disbursement period and interest during the grace period.


New liquidity loans with a grace period of up to one year and maturity period of up to five years may be included in the insured portfolio under this programme.

This HBOR insurance programme  is implemented to enable the exporters that have experienced difficulties in their operations as a result of the COVID – 19 pandemic to obtain liquidity loans more rapidly and easily. Following the amendment of the Insurance regulation, which is under way, banks will also be able to use the portfolio insurance for the approval of liquidity loans to indirect exporters, i.e. suppliers of exporters. We expect that other banks will soon be involved in the implementation of this programme“, said Tamara Perko, President of the Management Board of HBOR.


For our part, we make every effort to contribute to the maintenance of liquidity  and to enable business entities to overcome the current situation more easily. Erste banka has sufficient liquidity, and this portfolio insurance is one of the important preconditions for financing our clients – exporters, as well as all other exporters applying for a loan in Erste banka“, said Boris Centner, Member of the Management Board of Erste banka.


By the realisation of this Agreement with HBOR, Hrvatska poštanska banka will further facilitate the business of  Croatian entrepreneurs by providing new liquidity for exporters. Since the outbreak of the COVID-19 pandemic in Croatia, HPB, in support of the efforts of the Government of the Republic of Croatia to help the economy, has been implementing a comprehensive set of measures for mitigating the effects of the crisis on our clients and our entire economy. The Portfolio Insurance Agreement for liquidity loans enables us to provide faster and targeted support to finance small and large companies in all economic sectors that in the previous year generated 20 percent of their operating income  from exports. This new credit line for liquidity provides a grace period of up to 1 year and repayment periods of up to 5 years“, said Marko Badurina, President of the Management Board of Hrvatska poštanska banka.


Obtaining of the European Commission’s consent to the programme
This product required the approval of the European Commission, primarily to apply significantly lower premium rates for the portfolio insurance in relation to market premiums.
This measure will be applied until 31 December 2020 and will be available for use by exporters in all sectors.