ZAGREB, CROATIA, June 14 (SeeNews) – The European Investment Bank (EIB) and the state-owned Croatian development bank HBOR have signed a € 50 million ($ 60.6 million) guarantee agreement on loans taken out by Croatian mid-cap companies and large corporations for financing. about their recovery from the pandemic, the EIB said on Monday.
“The EIB’s contribution comes from the European Guarantee Fund (EGF), created by the EIB Group in 2020 to accelerate the recovery of the European economy from COVID-19, save jobs and provide much-needed liquidity to European companies,” the EIB said. in the statement.
This is the first EIB operation in Croatia to be based on an EGF and the fourth for the EIB Group after three EGF operations implemented by the European Investment Fund (EIF).
According to the statement, EIF’s operations provided € 350 million in guarantees in the form of loans, and this agreement with HBOR increases the total value of EGF-guaranteed loans in Croatia to € 513 million.
“This guarantee agreement will allow HBOR to approve loans with lower collateral requirements for mid- and small-cap companies that we could already offer to SMEs after we entered into a guarantee agreement with EIF,” HBOR CEO Tamara Perko said: “ These incentives will be available for direct working capital loans and investment loans for mid-cap companies under existing HBOR lending programs. ”
(1 euro = 1.2120672 dollars)