Croatian HBOR and European Investment Bank to Strengthen Cooperation

Lauren Simmonds

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As Poslovni Dnevnik/Ana Blaskovic writes, the Croatian Bank for Reconstruction and Development (HBOR) has signed an agreement with the European Investment Bank on financing the development and implementation of investment advisory services worth more than 670 thousand euros in total.

The Croatian HBOR thus received the support of the European Investment Advisory Hub (EIAH), which will enable it to strengthen the capacity of its advisory services and technical assistance to the public sector, primarily local and regional units with an emphasis placed on underdeveloped areas. Up to 0.5 million euros are financed by this EIAH grant, and the remaining part will be financed by the Croatian HBOR.

The Development Bank announced that the project is set to continue to support quality preparation and the development of projects for their more successful implementation while reducing actual costs to investors. The activities envisage a wide range of services to strengthen the capacity of the public sector in structuring sustainable and cost-effective projects, realising investments in the field of environmental protection and management, resource efficiency, the circular economy, smart cities and social infrastructure.

“By providing support to clients from the public sector in the development and structuring of investments and preparation of the necessary documentation, weĺl manage to increase the success of their implementation and the possibility of financing through the use of European Union (EU) funds,” said the Croatian HBOR´s Tamara Perko in a statement. She added that the main goal of this team up is to increase the quality and volume of sustainable public investments and contribute to more balanced development, which is one of the strategic goals of HBOR overall.

“After the pandemic, it is now even more important to make our knowledge and experience available to local partners to help them achieve a sustainable form of recovery through advice in preparing quality projects for funding offered by our two institutions and European Union funds available in the new Multiannual Financial Framework,” explained EIB Vice President Dario Scannapieco.

The Croatian HBOR’s strategy for the period between 2020 and 2024 identifies five strategic goals, including the promotion of balanced and sustainable regional, rural and urban development across the Republic of Croatia.

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