The ceremony was attended by Finance Minister Marić who pointed out the rising interest for such credit lines
Representatives of the European Investment Bank (EIB) and Croatian Bank for Rebuilding and Development (HBOR) have signed on Monday a financing contract worth 250 million Euro for the support of projects by small and medium businesses, Tportal.hr reported on July 11, 2016.
This is the second part of a 500 million Euro credit line, signed in 2014. EIB has been supporting HBOR for 15 years, with 15 contracts in that period worth 1.9 billion Euro, used by HBOR to support 2,700 projects.
EIB was one of the first banks to offer the option of financing to small and medium businesses during the economic crisis. Just in the first half of this year, 1,452 loans were approved valued at 4.15 million Kuna, 84% more in numbers and 2% more in value. The loans range from 40 thousand to 2.5 million Euro.
Special attention is given to projects guaranteeing youth employment, as Croatia is one of European countries where youth unemployment is a large problem. The EIB loan is due in 12 years at 0.5% interest, while debtors will pay 2 or 4 percent interest, depending on the credit line they choose.
