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Nov 06, 2017 16:19 EEST
November 6 (SeeNews) - The European Investment Bank (EIB) said on Monday it has signed a 250 million euro ($289.9 million) credit line deal with the Croatian Bank for Reconstruction and Development (HBOR), intended to support the investments of small and medium-sized companies (SMEs) and municipalities.
This is the first tranche of an approved lending framework for 800 million euro designed to support SMEs and improve the employment of young people up to 30 years of age, the EIB said in a statement.
The EIB noted that its Jobs for Youth initiative gives additional support to final beneficiaries if they can demonstrate that their investment project has contributed to the creation of jobs for young people.
HBOR and EIB have also agreed to consider implementing the bank’s new instrument, the Natural Capital Financing Facility, as a pilot operation for Croatia, and it is to be rolled out in the near future.
The EIB, with the European Commission’s LIFE instrument, designed this facility to offer lending and technical assistance to projects that conserve, restore, manage and enhance ecosystems and that enable businesses and communities to cope with climate change.
EIB lending commitment in Croatia amounts to some 5.3 billion euro since the launch of lending operations in the country.
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