Adris, Ericsson Nikola Tesla push higher Croatian share indices
Sales of new dwellings in Bosnia's Federation up 1.2% in 2023
Ljubljana share indices decline, Cinkarna Celje paces losers
Sales of new dwellings in Bosnia up 26.3% y/y in Q4
Romanian stock indices turn red, Electrica leads decliners
Dec 01, 2023 12:03 EEST
December 1 (SeeNews) - The European Investment Bank (EIB) and the Croatian state-owned development bank HBOR have agreed to jointly provide up to 500 million euro ($545 million) to Croatian small and medium-sized companies, mid-caps and public-sector entities, EIB said on Friday.
About 20% of the funds are earmarked for green projects, including in sectors like energy efficiency and clean energy production, sustainable transport and environmental protection, EIB said in a press release.
"The agreement will help HBOR to absorb EU grants and structural funds, among other assistance, and is expected to mobilise up to 1 billion euro of investments in the Croatian economy," according to EIB.
The two lenders have already signed the first tranche for 200 million euro, most of which will support the country’s SMEs and mid-caps.
The entire facility is expected to further EU Cohesion Policy objectives, and will support green projects in line with the EIB’s climate goals.
"HBOR is the leading provider of green financing in Croatia, which is a key priority for the EIB under its Climate Bank Roadmap policy," according to EIB Vice-President Teresa Czerwinska.
The EIB and HBOR have agreed that 70% of the facility will target SMEs and mid-caps, with the rest slated to support organisations in the country’s public sector and other beneficiaries.
($ = 0.917 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options