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25.05.2026.
As part of the annual AECM event called Access to Finance: Investment Needs in a Global Context that was held in Lisbon from 20 to 23 May, representatives of HBOR and the Portuguese development bank Banco Português de Fomento (BPF) signed the Memorandum of Understanding.
In this way, framework has been established for long-term cooperation between the two national development institutions in the areas of common interest, with an emphasis on promoting economic development, sustainability, investments, innovations, infrastructure, climate protection, international knowledge exchange and increasing the availability of financing.
The Memorandum was signed on behalf of HBOR by the President of the Management Board Hrvoje Čuvalo and the Member of the Management Board Alan Herjavec, while on behalf of Banco Português de Fomento it was signed by the CEO Gonçalo Regalado and Chief Commercial Officer Luís Guimarães.
The cooperation will include the exchange of experience and information, informal consultations, promotion of financial instruments, project financing opportunities, further lending and co-financing, cooperation on projects as well as the insurance and reinsurance of joint projects and export credits. The Memorandum also provides the possibility of identifying projects in Croatia, Portugal or third countries, in accordance with the mandates, priorities and internal procedures of both institutions.
“The signing of this Memorandum represents an important step in further strengthening HBOR's cooperation with institutions with a similar development mandate. We share a number of common priorities with BPF, from supporting small and medium-sized enterprises, innovation and exports, to investing in infrastructure, green transition and sustainable growth. We believe that this framework will enable a more intensive exchange of knowledge and experience and open up space for future initiatives of common interest for Croatia and Portugal," said the President of HBOR’s Management Board Hrvoje Čuvalo on this occasion.
Banco Português de Fomento is the Portuguese development bank with headquarters in Porto and an office in Lisbon, founded in 2020 by the merger of several national institutions focused on investment, development and support for small and medium-sized enterprises. BPF operates with the objective of promoting economic and social development of Portugal through financing, guarantees, equity and hybrid instruments, with a particular emphasis on entrepreneurship, investments, sustainability, innovations, infrastructure, internationalisation and green economy.
HBOR and BPF already cooperate through international associations and development networks, including AECM and ELTI, as well as through direct exchange of knowledge and experience on topics relevant to the operations of development banks.
By signing the Memorandum of Understanding, HBOR further confirms its focus on strengthening international partnerships, active participation in European development networks and the exchange of good practices with institutions that play an important role in promoting sustainable economic development and easier access to finance.
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As part of the annual AECM event called Access to Finance: Investment Needs in a Global Context that was held in Lisbon from 20 to 23 May, representatives of HBOR and the Portuguese development bank Banco Português de Fomento (BPF) signed the Memorandum of Understanding.
In this way, framework has been established for long-term cooperation between the two national development institutions in the areas of common interest, with an emphasis on promoting economic development, sustainability, investments, innovations, infrastructure, climate protection, international knowledge exchange and increasing the availability of financing.
The Memorandum was signed on behalf of HBOR by the President of the Management Board Hrvoje Čuvalo and the Member of the Management Board Alan Herjavec, while on behalf of Banco Português de Fomento it was signed by the CEO Gonçalo Regalado and Chief Commercial Officer Luís Guimarães.
The cooperation will include the exchange of experience and information, informal consultations, promotion of financial instruments, project financing opportunities, further lending and co-financing, cooperation on projects as well as the insurance and reinsurance of joint projects and export credits. The Memorandum also provides the possibility of identifying projects in Croatia, Portugal or third countries, in accordance with the mandates, priorities and internal procedures of both institutions.
“The signing of this Memorandum represents an important step in further strengthening HBOR's cooperation with institutions with a similar development mandate. We share a number of common priorities with BPF, from supporting small and medium-sized enterprises, innovation and exports, to investing in infrastructure, green transition and sustainable growth. We believe that this framework will enable a more intensive exchange of knowledge and experience and open up space for future initiatives of common interest for Croatia and Portugal," said the President of HBOR’s Management Board Hrvoje Čuvalo on this occasion.
Banco Português de Fomento is the Portuguese development bank with headquarters in Porto and an office in Lisbon, founded in 2020 by the merger of several national institutions focused on investment, development and support for small and medium-sized enterprises. BPF operates with the objective of promoting economic and social development of Portugal through financing, guarantees, equity and hybrid instruments, with a particular emphasis on entrepreneurship, investments, sustainability, innovations, infrastructure, internationalisation and green economy.
HBOR and BPF already cooperate through international associations and development networks, including AECM and ELTI, as well as through direct exchange of knowledge and experience on topics relevant to the operations of development banks.
By signing the Memorandum of Understanding, HBOR further confirms its focus on strengthening international partnerships, active participation in European development networks and the exchange of good practices with institutions that play an important role in promoting sustainable economic development and easier access to finance.