Zagreb To Take €50m Loan For Liquidity Of City-Owned Companies

Thirty million of the 50 million euro loan will be used to improve the liquidity of the Zagreb Holding multiutility conglomerate and 20 million for the liquidity of the ZET public transportation company. The city will take a loan from the European Bank for Reconstruction and Development.

Even though it was endorsed, the proposal to seek the loan was criticised by some opposition parties, and the Croatian Democratic Union (HDZ) deputies objected that since the start of his term Mayor Tomislav Tomašević had taken loans in the amount of €1.1 billion.

Tomašević replied that the city was taking loans in order to settle the accumulated debt of the previous city government in the amount of €1.4 billion.

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