HBOR Says Loans Worth More Than 13.5 Billion Kuna Available to Real Sector

Total Croatia News

ZAGREB, April 10, 2020 – The European Commission on Thursday approved a second Croatian scheme for support to the economic sector in the context of the coronavirus pandemic, and the total credit potential of the two schemes is €1.8 billion (more than HRK 13.5 billion), intended for the real sector.

The schemes were approved on the basis of the Temporary Framework for State Aid Measures, adopted by the European Commission on March 19 and amended on April 3, the Croatian Bank for Reconstruction and Development (HBOR) said in a statement.

The first scheme, totalling €790 million (HRK 6 billion) and approved by the EC a few days ago, secures credit potential for exporters’ liquidity in the form of insurance policies.

In cooperation with the Finance Ministry, a few days ago the HBOR put forward a second scheme, intended for small, medium and big enterprises affected by the coronavirus crisis and in need of working capital.

Under the scheme, the HBOR will provide favourable loans, with interest subsidised by the state. The total credit potential of subsidised loans is estimated at one billion euros.

More business news can be found in the dedicated section.


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