ANNOUNCEMENT 13 Jun 2014

In June 2014, the Croatian Development Bank signed a credit agreement.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Croatian Bank for Reconstruction and Development (2014) With the support of HBOR, Croatian entrepreneurs are building a holiday resort worth EUR 88.3 million in Russia.http://www.hbor.hr/with-the-support-of-hbor-croatian-entrepreneurs-ar

Inception date: 13 Jun 2014 | Removal date: open ended
Still in force

Trade finance

On 13 June 2014, HBOR (Croatian Bank for Reconstruction and Development) and the DNP Borisov Gorodok (a Russian business entity) signed a credit agreement with a volume of ca. USD 84 million. The purpose of the financing is the construction of a holiday resort in Russia. The total investment volume for the project is forcasted to be USD 99 million.
 
The condition for HBOR's financing of the project is a requirement to source construction material and services from Croatia. According to HBOr's annoucement, the deal benefits more than fifty Croatian companies.
 
This credit agreement is in accordance with the 2014-2015 ExportSupport Action Plan adopted by the Government of the Republic of Croatiain 2014. This plan envisaged an even stronger role for HBOR in thefield of export promotion.