March 25 (SeeNews) - The International Bank for Reconstruction and Development (IBRD) is ready to approve a 200 million euro ($236.6 million) loan to the Croatian Bank for Reconstruction and Development (HBOR) to help local businesses ensure liquidity during the COVID-19 pandemic, Croatia's finance minister Zdravko Maric said on Thursday.
The potential funding is intended primarily for small and medium-sized enterprises (SMEs), undercapitalized and export-oriented firms, as well as women entrepreneurs, Maric said in a statement released by the government.
The Croatian government allowed HBOR to sign a loan agreement with IBRD for a project that will help companies ensure liquidity, the statement read.
The new line is expected to stimulate additional lending activity of about 80 million euro by commercial banks, Maric added.
($ = 0.8452 euro)