EAPB member HBOR enables further SME access to finance

17 January 2018

On November 27, EAPB member HBOR and the Council of Europe Development Bank (CEB) signed a Framework Loan Contract in the amount of EUR 100 million. On behalf of HBOR, the Contract was signed by the President of the Management Board Ms Tamara Perko and the Member of the Management Board Mr Hrvoje Čuvalo, and on behalf of the Council of Europe Development Bank (CEB) by the Governor Mr Rolf Wenzel.

The cooperation between HBOR and CEB started in 2001. So far, HBOR has concluded five loan contracts with CEB in the total amount of EUR 248 million, by which more than 900 SME projects and more than 70 infrastructure projects in the public sector have been financed.

The sixth contract signed, in the amount of EUR 100 million, will enable the financing of small and medium enterprises (EUR 70 million) and projects of the public sector (EUR 30 million) that will be implemented by HBOR through its current loan programmes. These funds will be used for the financing of eligible investment projects implemented by micro, small and medium-sized enterprises, local and regional government units and/or other public sector entities with an objective of creating new and maintaining existing jobs as well as improving the conditions of living in urban and rural areas.

On the occasion of signing the Framework Loan Agreement, Tamara Perko, President of HBOR’s Management Board, said: “The funds raised by this Agreement enable us to continue with the granting of favourable loans. New investment projects implemented by small and medium-sized enterprises as well as public sector entities are a generator of growth and employment. I would like to thank to the CEB for their confidence in HBOR and for confirming, by today’s signing of the Loan Agreement, HBOR as their reliable partner.”

The Governor of the Council of Europe Development Bank underlined the CEB’s unwavering commitment to supporting HBOR efforts to strengthen economic recovery, boost employment and foster social cohesion through improving public infrastructure and services in Croatia.

Learn more about HBOR here: https://www.hbor.hr/en/