EIB, 100 mln to SMEs and municipalities projects

The European Investment Bank (EIB) is providing a loan of 100 million euros to the Croatian Bank for Reconstruction and Development (HBOR) to finance the projects of small and medium-sized enterprises (SMEs), mid-cap companies and municipalities in Croatia. ''The EIB - President Werner Hoyer said - supports projects in Croatia intended to help the country to meet the EU accession criteria and integrate rapidly into the Union. The EIB loan will finance the projects of SMEs and medium-sized companies in the areas of industry and services, including tourism, and also support small and medium-scale infrastructure schemes promoted by local authorities, projects in the knowledge and technology-intensive sectors and additional priorities such as energy, environmental protection, health and education. A minimum of 70% of the loan amount will be allocated to SME and mid-cap projects. ''More than 1,200 projects, financed from the funds raised - Anton Kovacev, president of Croatian Bank for Reconstruction and Development said - have led to the creation of thousands of new jobs, and even more significant is the fact that many existing jobs have been maintained, owing to our loans''.