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Croatia lends 1.0 bln kuna (137 mln euro) to tourism sector in Jan-Sept

Oct 2, 2012, 6:05:53 PMArticle by Georgi Georgiev
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October 2 (SeeNews) - Croatian development bank HBOR has approved 1.02 billion kuna ($177 million/137 million euro) in loans to local tourism companies in the first nine months of the year, the tourism ministry said on Tuesday.

Croatia lends 1.0 bln kuna (137 mln euro) to tourism sector in Jan-Sept

Over 90% of HBOR loans to the tourism sector approved through September backed investment projects, while the remainder was directed towards refinancing the companies' working capital, the ministry said in a statement issued after a joint conference held by tourism minister Veljko Ostojic and HBOR CEO Anton Kovacev.

Kovacev said the state-owned bank is currently reviewing loan applications from the tourism sector totalling 440 million kuna.

(1 euro=7.4469 Croatian kuna)

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