Project Development and Funding under NCFF Made Possible by HBOR
Hrvatska banka za obnovu i razvitak (HBOR) and the European Investment Bank (EIB) signed the Finance Contract for SMEs, MidCaps and other priorities under the NCFF today. On behalf of HBOR, the Contract was signed by Mrs Tamara Perko, President of the Management Board, and Mr Hrvoje Čuvalo, Member of the Management Board, and, on behalf of the EIB, the Contract was signed by Mr Dario Scannapieco, Vice-President.
At the end of the last year, the Finance Contracts signed by HBOR and the EIB amounted to EUR 350 million, and the Contract signed today provided for the disbursement of up to EUR 15 million of that amount for the financing of projects under the NCFF (Natural Capital Financing Facility).
NCFF is the financial instrument which combines the EIB’s financing and the Commission's funding under the LIFE Programme (Programme for the Environment and Climate Action). It is intended for green infrastructure projects, projects aimed at the maintenance of ecosystems, offsetting the negative effects on biodiversity and promoting biodiversity and environmental protection.
The main advantage of using these funds is the possibility of better preparation of projects. In other words, the contract provides for free technical assistance for advisory services, so that the preparation of borrowers’ projects can be in compliance with the programme criteria.
The funds can be used for projects of both public and private sector via HBOR’s current loan programmes.
On the occasion of signing of this Contract, Ms Tamara Perko, President of the Management Board of HBOR, stated: “Loans will be approved via our existing loan programmes with interest rates as low as 1.7 percent, and repayment terms of up to 17 years. We invite the entrepreneurs intending to invest into “green” projects to contact us so that we can include them into in the implementation of this programme and provide them free assistance for the project preparation. Namely, we expect that EIB will select consultants that will assist our entrepreneurs in the preparation, implementation, supervision and assessment of individual projects during May or June already.”
At the end of the last year, the Finance Contracts signed by HBOR and the EIB amounted to EUR 350 million, and the Contract signed today provided for the disbursement of up to EUR 15 million of that amount for the financing of projects under the NCFF (Natural Capital Financing Facility).
NCFF is the financial instrument which combines the EIB’s financing and the Commission's funding under the LIFE Programme (Programme for the Environment and Climate Action). It is intended for green infrastructure projects, projects aimed at the maintenance of ecosystems, offsetting the negative effects on biodiversity and promoting biodiversity and environmental protection.
The main advantage of using these funds is the possibility of better preparation of projects. In other words, the contract provides for free technical assistance for advisory services, so that the preparation of borrowers’ projects can be in compliance with the programme criteria.
The funds can be used for projects of both public and private sector via HBOR’s current loan programmes.
On the occasion of signing of this Contract, Ms Tamara Perko, President of the Management Board of HBOR, stated: “Loans will be approved via our existing loan programmes with interest rates as low as 1.7 percent, and repayment terms of up to 17 years. We invite the entrepreneurs intending to invest into “green” projects to contact us so that we can include them into in the implementation of this programme and provide them free assistance for the project preparation. Namely, we expect that EIB will select consultants that will assist our entrepreneurs in the preparation, implementation, supervision and assessment of individual projects during May or June already.”