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Nov 24, 2017 12:11 EEST
November 24 (SeeNews) - The Council of Europe Development Bank (CEB) said it has signed a 100 million euro ($118.7 million) framework loan agreement with Croatia's development bank, HBOR, to finance projects implemented by SMEs and units of local governments.
The funds will be used for the financing of productive investments undertaken by small and medium-sized enterprises (SMEs) and social infrastructure development projects by local and regional government units or other public sector entities, CEB said in a statement on Thursday.
The latest loan agreement has been preceded by five CEB loans granted to the HBOR, totalling almost 250 million euro. The most recent of those was a 90 million euro loan approved in July 2013 and fully disbursed by December 2016.
Since becoming a CEB member in 1997, Croatia has benefited from financing in areas such as job creation and preservation, urban and rural modernisation, and the management and prevention of natural disasters.
Set up in 1956, the CEB has 41 member states.
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