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Croatia's HBOR secures 213 mln kuna (29 mln euro) to finance energy efficiency projects

Author Iskra Pavlova
Croatia's HBOR secures 213 mln kuna (29 mln euro) to finance energy efficiency projects Photo: Croatian Bank for Reconstruction and Development, HBOR (Hrvatska Banka za Obnovu i Razvitak)

ZAGREB (Croatia), January 17 (SeeNews) - The Croatian Bank for Reconstruction and Development, HBOR, said on Friday it has secured an additional 213 million kuna ($32 million/29 million euro) to implement the already started programme of extending European Structural and Investment Funds (ESIF) loans for energy efficiency projects in public buildings.

With the additional financing, the overall volume of lending at favourable terms to such projects has increased to more than 400 million kuna, the state-owned bank said in a statement.

It added that the initial financing under the programme in the amount of 190 million kuna was quickly absorbed amidst strong demand.

The ESIF loans for energy efficiency projects in public buildings are aimed to support projects that will reduce energy consumption by at least 50% in annual terms, HBOR said.

They are extended at interest rates of 0.1%, 0.25% or 0.5%, depending on the area where the project is being developed, and are free from bank fees and commissions.

(1 euro = 7.43897 kuna)

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