ZAGREB (CROATIA), June 14 (SeeNews) – Croatia's state-owned development bank HBOR said it signed a 200 million euro ($242.3 million) loan deal with the World Bank under the HEAL project to support companies in coping with the fallout from the coronavirus pandemic and the two devastating earthquakes of 2020, HBOR said.
The Helping Enterprises Access Liquidity (HEAL) project will improve access to finance of exporters, small and medium companies with up to 3000 employees, companies from less developed regions of Croatia, and businesses owned or managed by women, supporting an inclusive and resilient recovery, HBOR said in a statement on Friday following the signing of the loan agreement.
“The loan represents a continuation of the significant support provided by the World Bank to the Republic of Croatia since the beginning of the crisis in 2020, which is reflected in operations worth a total of 760 million euro (including HEAL),“ finance minister Zdravko Maric said in the statement.
The HEAL Croatia project will help to keep jobs and support households through direct support to approximately 150 companies employing some 25,000 people, said Elisabetta Capannelli, World Bank country manager for Croatia.
Croatia's gross domestic product (GDP) is to grow by 5.5% real in 2021, following last year's estimated contraction of 8.0%, the World Bank said in its Global Economic Prospects report published last week.
(1 euro = $ 1.21168)