Croatian HBOR signs € 200m loan with World Bank to support businesses affected by coronavirus



ZAGREB, CROATIA, June 14 (SeeNews) – Croatian State Development Bank HBOR has announced it has signed a € 200 million ($ 242.3 million) loan deal with the World Bank as part of the HEAL project to support companies in the fight against the fallout from the coronavirus. a pandemic and two devastating earthquakes in 2020, HBOR said.

The Enterprise Access to Liquidity (HEAL) project will improve access to finance for exporters, small and medium-sized companies with up to 3,000 employees, companies from less developed regions of Croatia, and women-owned or operated businesses, while supporting inclusive and sustainable recovery. in a statement from HBOR on Friday following the signing of the loan agreement.

“This loan represents a continuation of the significant support provided by the World Bank to the Republic of Croatia since the start of the crisis in 2020, which is reflected in operations totaling € 760 million (including HEAL),” Finance Minister Zdravko said. Maric said in a statement.

According to Elisabetta Capannelli, World Bank Country Manager for Croatia, the HEAL project in Croatia will help preserve jobs and support households through direct support to some 150 companies that employ some 25,000 people.

Croatia’s gross domestic product (GDP) is set to grow 5.5% in real terms in 2021 after a projected 8.0% contraction last year, the World Bank said in its global economic outlook report released last week.

(1 euro = 1.21168 US dollars)


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