IMPLEMENTATION LEVEL

IFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 24 Mar 2017 | Removal date: open ended
Still in force

State loan

The European Investment Bank (EIB) approved EUR 60 million (approx. USD 64.8 million) in financing to the Croatian company Riviera d.d. za turizam (Valamar Riviera). On 24 March 2017, a loan agreement between the EIB and Valamar Riviera was signed having a total value of EUR 44 million. On 6 March 2018, a loan agreement having a total value of EUR 16 million was signed. 

The loans will support the company's project regarding the reconstruction and development of holiday facilities in Croatia. According to the EIB: "The project's objectives would, inter alia, allow to address an increasing customer demand, ensure a further diversified offer on increased service standards and enhanced safety standards."

Valamar Riviera is based in Croatia and operates in the tourist industry. The company's activities include operating hotels, campsites and resorts.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

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