ANNOUNCEMENT 05 Dec 2017

In December 2017, the European Investment Bank (EIB) signed a credit line agreement with Hrvatska banka za obnovu i razvitak (HBOR) to support Croatian mid-cap companies as well as certain projects carried out in Croatia.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, HBOR LOAN FOR MIDCAPS & OTHER PRIORITIES II: https://www.eib.org/en/projects/loan/loan/20160679
The European Investment Bank, Project summary, HBOR LOAN FOR MIDCAPS & OTHER PRIORITIES II: https://www.eib.org/en/projects/pipelines/pipeline/20160679
European Investment Bank, SMEs and mid-caps: http://www.eib.org/en/projects/priorities/sme/index.htm

Inception date: 05 Dec 2017 | Removal date: open ended

State loan

The European Investment Bank (EIB) approved a EUR 400 million (approx. USD 473.3 million) credit to Hrvatska banka za obnovu i razvitak (HBOR).  Under the credit line, the EIB and HBOR signed a loan agreement having a total financing value of EUR 100 million on 5 December 2017. On 30 April 2019, a second loan agreement was signed under the credit line agreement having a total value of EUR 292.5 million.

The credit line will, through HBOR, support Croatian mid-cap companies as well as certain projects. More specially, 70% of the credit line is dedicated to mid-caps whilst the remaining 30% is granted to projects related to the knowledge economy, infrastructure, environment and energy.

In general, the EIB has made financing of SMEs and mid-cap companies a top priority. In this context, the EIB stated: "In 2018 alone, the EIB Group financed SMEs and mid-caps across the globe to the tune of EUR 23.3 billion (EIB Group)."

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.

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