The EBRD said on Thursday its board of directors has approved a new strategy for Croatia which sets out the priorities for the bank’s work in the country for the period 2017-21.
The bank aims to support Croatia in achieving sustainable growth by supporting private sector competitiveness, deepening financial markets and promoting the commercialisation of public companies, the EBRD said in a statement.
“The new strategy is an important milestone as it defines the parameters for our work in the country", Vedrana Jelusić Kasic, EBRD regional director for Croatia, Hungary, the Slovak Republic and Slovenia, said in the statement.
"In close consultation with the authorities and Croatian businesses we have been able to analyse the state of the economy and to identify areas where the EBRD will be able to continue making an important contribution to the sustainable development of Croatia’s economy", she added.
Earlier this month, the Croatian government said it has endorsed the EBRD's new strategy, under which it intends to invest 200 to 300 million euro ($224.7 million-$337.1 million) annually in the country until end-2020, mostly in the private sector.
The EBRD signed its first project in Croatia in 1994 and has invested 3.57 billion euro in 195 projects to date. The Bank’s activities cover all areas of the economy but are especially strong in the infrastructure, corporate, financial institutions and energy sectors.
($=0.890060 euro)