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13.05.2026.
A conference on social and affordable housing was held in Zagreb on Tuesday, 12 May, on the occasion of the completion of the European Investment Bank (EIB) advisory support project for the development of affordable housing projects in five Croatian cities - Zagreb, Split, Rijeka, Osijek and Varaždin.
As part of the conference, a panel entitled "Financing social and affordable housing initiatives - Challenges and opportunities" was held, which was attended by HBOR Management Board Member Alan Herjavec, along with representatives of state administration and international financial institutions. The participants in this panel discussed the challenges and opportunities of financing affordable housing in Croatia, with a special emphasis on the role of development banks and the combining of different sources of financing.
In addition to Herjavec, the panel discussion was also attended by the State Secretary of the Ministry of Physical Planning, Construction and State Assets Željko Uhlir, Head of Division, Central and South Eastern Europe - Public Sector, the EIB’s Operations Directorate Anders Risberg, and Head of Service for Financial Instruments, Ministry of Regional Development and EU Funds Dijana Bezjak.
"Affordable housing is no longer exclusively a social issue, but it increasingly becomes a development and investment issue that has a direct impact on the labour market, demography and long-term competitiveness of the economy," said Herjavec, emphasizing that HBOR had not been primarily focused on the housing sector so far, but that the need for stronger involvement in this area had recently been clearly recognised.
When talking about existing financing options, Herjavec emphasized that HBOR could already support housing projects through its loan programmes, especially in cooperation with local government units and state-owned companies, but also through instruments such as the Urban Development Fund, which enabled a combination of favourable loans and grants, or the possibility of writing off part of the principal of up to 50 percent. At the beginning of last year, a broader scope of purpose of this financial instrument was made possible by introducing a new eligible financing purpose - investments in housing infrastructure exclusively for the renting of apartments.
The discussion also highlighted the need to develop a systematic approach to financing, which includes a combination of public and private sources, and to create a stable and sustainable investment framework. "For affordable housing projects, not only the terms and conditions of financing are crucial, but also maturity. Long-term sources of capital, in cooperation with institutions such as the EIB and the CEB, are a prerequisite for the development of sustainable housing construction models," concluded Herjavec.
The panel participants agreed that for the further development of affordable housing in Croatia, it would be crucial to ensure quality coordination between the state, cities and financial institutions, as well as a stronger involvement of private capital.
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A conference on social and affordable housing was held in Zagreb on Tuesday, 12 May, on the occasion of the completion of the European Investment Bank (EIB) advisory support project for the development of affordable housing projects in five Croatian cities - Zagreb, Split, Rijeka, Osijek and Varaždin.
As part of the conference, a panel entitled "Financing social and affordable housing initiatives - Challenges and opportunities" was held, which was attended by HBOR Management Board Member Alan Herjavec, along with representatives of state administration and international financial institutions. The participants in this panel discussed the challenges and opportunities of financing affordable housing in Croatia, with a special emphasis on the role of development banks and the combining of different sources of financing.
In addition to Herjavec, the panel discussion was also attended by the State Secretary of the Ministry of Physical Planning, Construction and State Assets Željko Uhlir, Head of Division, Central and South Eastern Europe - Public Sector, the EIB’s Operations Directorate Anders Risberg, and Head of Service for Financial Instruments, Ministry of Regional Development and EU Funds Dijana Bezjak.
"Affordable housing is no longer exclusively a social issue, but it increasingly becomes a development and investment issue that has a direct impact on the labour market, demography and long-term competitiveness of the economy," said Herjavec, emphasizing that HBOR had not been primarily focused on the housing sector so far, but that the need for stronger involvement in this area had recently been clearly recognised.
When talking about existing financing options, Herjavec emphasized that HBOR could already support housing projects through its loan programmes, especially in cooperation with local government units and state-owned companies, but also through instruments such as the Urban Development Fund, which enabled a combination of favourable loans and grants, or the possibility of writing off part of the principal of up to 50 percent. At the beginning of last year, a broader scope of purpose of this financial instrument was made possible by introducing a new eligible financing purpose - investments in housing infrastructure exclusively for the renting of apartments.
The discussion also highlighted the need to develop a systematic approach to financing, which includes a combination of public and private sources, and to create a stable and sustainable investment framework. "For affordable housing projects, not only the terms and conditions of financing are crucial, but also maturity. Long-term sources of capital, in cooperation with institutions such as the EIB and the CEB, are a prerequisite for the development of sustainable housing construction models," concluded Herjavec.
The panel participants agreed that for the further development of affordable housing in Croatia, it would be crucial to ensure quality coordination between the state, cities and financial institutions, as well as a stronger involvement of private capital.