ZAGREB, May 8, 2018 – The European Bank for Reconstruction and Development (EBRD) last year invested 124 million euro in Croatia and according to the EBRD director for Croatia, Slovenia, Slovakia and Hungaria, Vedrana Jelušić Kašić, the bank is expected to significantly increase the investment volume this year.
Last year the bank invested in 13 projects in Croatia worth 124 million euro. The largest project was a 50 million euro loan to the Croatian roads operator HAC, earmarked for HAC restructuring. “We also launched several policy initiatives, for instance to strengthen the business environment, promote equity investments and boost the Zagreb Stock Exchange (ZSE), Jelušić Kašić told Hina.
She added the bank had good cooperation with the Ministry of State Assets on policy reforms related to managing state-owned enterprises.
In 2018, the bank launched a new initiative with the regulator HANFA supporting the review of the Corporate Governance Code and helping increase corporate governance.
“We are a demand-driven institution, so wherever we can contribute to make a difference we are happy to engage as long as the project meets our criteria,” Jelušić Kašić said. “In our strategy for Croatia, adopted in June 2017, we identify the private sector, financial markets and restructuring of public enterprises as our priorities. We expect a significantly higher volume of investment in 2018,” she stressed.
Supporting SMEs through partner financial institutions remains relevant because of their dominant position in the Croatian economy and the fact that they still remain underserved by commercial banks, Jelušić Kašić said. “We stand ready to provide innovative and tailored solutions to support the growth of vibrant and promising local enterprises,” Jelušić Kašić said.
