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Croatia's govt gives guarantees to HZ Infrastructura for 445 mln kuna (59 mln euro) loans

Author Annie Tsoneva
Croatia's govt gives guarantees to HZ Infrastructura for 445 mln kuna (59 mln euro) loans Author: Vlada.hr. License: All rights reserved.

ZAGREB (Croatia), April 21 (SeeNews) - The Croatian government said on Thursday it decided to issue state guarantees to railway infrastructure operator HZ Infrastruktura for two loans worth a total of 445 million kuna ($64 million/59 million euro).

One of the loans, worth 200 million kuna, is intended to finance reconstruction and upgrade works on railway infrastructure, the government said in a press release.

The loan will be provided by local lenders Erste&Steiermaerkische Bank and Privredna Banka Zagreb. It has a grace period of two years, the repayment period is ten years and carries an annual interest rate of 0.59%.

The other loan, worth 245 million kuna, will be granted by Erste&Steiermaerkische Bank, Privredna Banka Zagreb and OTP Banka. It will be used to repay financial liabilities to contractors on projects carried out under the EU's Connecting Europe Facility programme. It has to be repaid by the end of 2023 at 0.15% annual interest.

(1 euro=7.560 Croatian kuna)

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