Croatian Bank ESB Gets 40 Mln Euro Loan from EIB

"The funding provided under this agreement is aimed at financing small and medium-sized enterprises and local governments, or projects worth between 40,000 and 25 million euro from the public and private sector, to an amount covering 50% of the project value," the bank said in a statement.

That funding will be distributed as loans with maturity from four to 20 years, depending on the type of the project. The loan facility will be focused on environmental, infrastructure, science, energy, health and education projects. The borrowing cost will be determined on a case-to-case basis in line with current market conditions.

 
ESB, Croatia’s third largest bank by assets and profitability, is a subsidiary of Austrian banking group Erste.

ESB’s shares were traded at 355 kuna ($63.6/49.8 euro) by 1430 GMT on the Zagreb bourse on Wednesday, down from a 383.60 kuna close on Tuesday.

(1 euro = 7.1280 Croatian kuna)