EIB is Lending EUR 300 Million to co-Finance Croatia's Priority Projects

The European Investment Bank (EIB) is lending EUR 300 million - the first tranche of an approved loan amount of EUR 600 million - to co-finance priority projects in Croatia, receiving support from EU funds over the period 2014–2020. The EIB loan will cover the national co-financing contributions in line with the Partnership Agreement and the "Competitiveness and Cohesion” Operational Programme ("OPCC”) in the areas of transport, energy, the environment, health, research and development, infrastructure, nature protection, social infrastructure, ICT, urban regeneration, water and waste management.

EIB Vice-President Dario Scannapieco stated, "The EIB’s loan will co-finance priority projects, estimated at EUR 8.1 billion, helping to increase the quality of life of Croatia’s citizens. The EIB funds will facilitate the absorption of EU grants for the benefit of the Croatian economy in terms of accelerating economic growth, strengthening competitiveness and increasing job creation in the country”.

The EIB financing will be provided in the form of a Structural Programme Loan, a dedicated EIB loan product for co-financing schemes backed by EU structural funds. In addition to larger projects, the EIB loan is aimed at financing a considerable number of smaller schemes which, due to their size, would not qualify for direct EIB financing. The EIB loan offers long-term co-financing on the most attractive terms for OPCC projects throughout Croatia. The loan may also be used for pre-financing, if needed, as EIB financing may be made available ahead of the EU grants.

EIB lending commitments in Croatia since the start of the Bank’s activity in the country in 2001 have now reached EUR 4.5 billion. EIB operations cover important sectors of Croatia’s economy, including transport, the environment, energy infrastructure, manufacturing and services. Another key component of the Bank’s activity in Croatia is the promotion of small and medium-sized enterprises (SMEs) by increasing SME access to long-term financing through local financial institutions.

(EIB/balkans.com)