1. Final Borrowers


  • energy service providers (companies and crafts businesses providing the service of energy efficiency improvements on public sector buildings, selected in the public bidding process);
  • energy service buyers (state administration, local or regional, government units as well as institutions, agencies, schools and hospital owned by the above);
  • companies and crafts businesses investing in energy efficiency.


Pursuant to the Conflict of Interest Prevention Act (Official Gazette of the Republic of Croatia Nos. 26/11, 12/12, 126/12, 57/15), restrictions are in force on lending to business entities whose ownership interests are owned by public officials and their family members. The provisions of these restrictions are deemed a constituent part of HBOR loan programmes. The full wording of the restrictions can be found at: Restrictions on Lending to State Officials.


2. Purpose of Loans


Fixed assets  

  • renovation and reconstruction of buildings
  • equipment and devices



The Centre for the Monitoring of the Operations of the Energy Sector and Investment assesses the eligibility of each project in terms of energy efficiency and renewable energy resources and accordingly issues a Confirmation on the Technical and Financial Feasibility of the Project.


3. Manner of Implementation


  • through commercial banks
  • risk-sharing model
  • direct lending


4. Loan Amount, Disbursement Period and Repayment


Loan amount The maximum loan amount is not limited and depends on the financing abilities of HBOR, the investment project, the creditworthiness of borrower, the eligibility of project as evidenced by the Confirmation of the Technical and Financial Feasibility of the Project and the value and the quality of the collateral offered.
Loans are granted in HRK or in HRK with currency clause. HBOR may consider financing of up to 100% of the estimated investment value, without VAT. Loans are repaid in monthly instalments. HBOR can, in certain cases, consider a possibility of financing the estimated investment value with VAT.
Disbursement period up to 12 months
Grace period up to 1 year
Repayment period up to 14 years, grace period included


5. Interest


4% p.a.


Depending on the capabilities of the final borrower on the realization of the right to allocation of state aid and/or de minimis aid, loan comes with a general interest rate that is determined at least in the amount of reference or by stimulating the interest rate or the effective interest rate below the reference.


Interest rate is variable on the basis of the Decision of HBOR’s Managing Board and pursuant to the criteria of the HBOR’s Decision on Interest Rates and the Interest Calculation Regulations.


6. Loan Application Fee


0.8% one-off, on the committed loan amount


7. Commitment Fee


0.25% p.a. on the undisbursed loan amount, starting 30 days after date of the loan contract


8. Security


For the purpose of securing due fulfilment of loan obligations, HBOR accepts:


  • bills of exchange and debentures of the final borrower and the owner of the final borrower
  • bills of exchange and debentures of the local and regional government unit or the state administration body if it is the final borrower
  • contract on the assignment of receivables, by means of which the receivables of the energy service provider from the energy service buyer are assigned to the lender
  • performance-related guarantees transferable to HBOR
  • guarantee issued by HAMAG-BICRO covering the repayment of loan in the amount of up to 80 per cent of the amount of HBOR’s loan
  • as an exception, if deemed necessary in the light of project size and quality, HBOR may consider other collateral customary in banking practice


9. Commercial Banks Co-operating with HBOR on the Loan Programme


  1. Addiko Bank d.d., Zagreb (RS)
  2. Croatia banka d.d., Zagreb
  3. Erste & Steiermärkische Bank d.d., Rijeka (RS)
  4. Hrvatska poštanska banka d.d., Zagreb (RS)
  5. Istarska kreditna banka Umag d.d., Umag
  6. OTP banka Hrvatska d.d., Zadar (RS)
  7. Podravska banka d.d., Koprivnica (RS)
  8. Privredna banka Zagreb d.d., Zagreb
  9. Raiffeisenbank Austria d.d., Zagreb (RS)
  10. Sberbank d.d., Zagreb (RS)
  11. Slatinska banka d.d., Slatina (RS)
  12. Societe Generale – Splitska banka d.d., Split
  13. Zagrebačka banka d.d., Zagreb (RS)


The aforementioned commercial banks have been included into the financing through commercial banks.


Those commercial banks that have been included also into the financing under the risk-sharing model are marked by acronym (RS).


More detailed information can be found in the complete wording of the Loan Programme or at:
HBOR, Strossmayerov trg 9, 10000 Zagreb
Phone: +385 1 /45 91 666