Croatia to launch 172 mln euro urban development fund

This fund supplements existing support from the EU's ITU mechanism, which amounts to 680 million euro. Its primary objective is to foster balanced urban development across Croatia, focusing on initiatives that promote green and technological advancements. Notably, it introduces a novel approach by allowing EU fund resources to enrich public infrastructure projects with commercial elements for the first time, the ministry said on Wednesday in a press release.

The Memorandum of Understanding was signed by regional development minister Sime Erlic and representatives of Croatia's state development bank HBOR.

The fund will combine the provision of loans and grants. It will become operational by the end of June.

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