Hrvoje Čuvalo, Member of the Management Board of HBOR, was elected for a term of two years as Member of Administrative Board of the European Association of Public Banks (EAPB) at the General Assembly in Milan.

By the appointment of Mr. Hrvoje Čuvalo to the Administrative Board of EAPB, HBOR has been given trust and acknowledgement that as a development institution of one of the smaller EU member states, it represents an important factor in the implementation of common European policies. Ms. Lidwin Van Velden, CEO of NWB Bank from the Netherlands, was elected as the new EAPB President.


The newly elected Administrative Board consists of the following 9 members:

  1. Ms. Lidwin Van Velden, NWB, the Netherlands, President
  2. Ms. Gabriela Pantring, NRW.BANK, Germany, Vice President
  3. Ms. Mari Tyster, Munifin, Finland, Vice President
  4. Ms. Iris Bethge-Krauss, VÖB, Germany, Member
  5. Ms. Angeliki Krisilion, IBB, Germany, Member
  6. Mr. Philippe Mills, SFIL, France, Member
  7. Mr. Hrvoje Čuvalo, HBOR, Croatia, Member
  8. Mr. Paweł Nierada, BGK, Poland, Member
  9. Mr. Michele Vietti, Finlombarda, Italy, Member


Hrvoje Čuvalo, Member of the Management Board of HBOR-a, stated on this occasion: „In the post-COVID era and the new global instabilities, support to the recovery and resilience of entrepreneurs is of crucial importance for the creation of an advanced, resilient and sustainable EU economy. The development of new, favourable forms of financing for investments in the green economy and digitalisation, development of new technologies and manufacturing, as well as the promotion of small and medium-sized enterprises are prerequisites for the transition of the EU to a circular and responsible economy of the new era. In this process, the contribution of state development banks will be crucial for the recovery of national economies. Therefore, as a Member of the Administrative Board, I will advocate for coordinated joint cooperation and connection of members with the aim of achieving the best possible results of our efforts.


EAPB was established in 2000 with the aim of representing the interests of development banks and European state-owned banks. The Association currently has 28 members and represents directly or indirectly more than 90 financial institutions with overall total assets of over € 3,200 bn and 15% market share of the European financial sector. EAPB is successful in representing the interests of national development banks at the European Commission, the European Parliament and other European institutions. HBOR is a member of this association since 2007.