May 24 (SeeNews) - The Zagreb Stock Exchange (ZSE) said on Thursday it has signed an agreement with Hrvatska Postanska Banka [ZSE:HPB] to encourage the development of small and medium-sized enterprises by offering them more favourable terms of financing.
The partnership agreement between the ZSE and the bank will give small companies opportunites to raise capital on the Progress platform of the stock exchange by issuing securities with the support and advice of HPB and will offer them access to more favourable HPB loans, the ZSE said in a statement.
"Small and medium-sized enterprises are the foundation of the world's most powerful economies, much more than big companies or state-owned enterprises. We believe that this will also be true for Croatia, and HPB will continue to contribute to this in the future, as far as we can afford to," Tomislav Vuic, president of the management board of HPB, said in the statement.
HPB already has clients whose long-term investment and business expansion plans can be financed by raising money on the capital market, ZSE noted.
Within their partnership, ZSE and HPB will also hold workshops for small and medium-sized entrepreneurs to prepare them for growth.
The Progress platform is a multilateral trading facility (MTF) for securities of small and medium-sized enterprises. Its aim is to enable those companies to easily access financing via the capital market, including equity and credit instruments.
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