New funding for modernisation of Dubrovnik port in Croatia

€8 million loan extension for reconstruction of quay

The EBRD is supporting the development of the regional transport infrastructure and tourism network in Croatia with €8 million in new financing to the Dubrovnik Port Authority to finance the reconstruction of a berth within the port.  

The funds represent an extension of a €26.5 million EBRD loan provided in 2005 to upgrade the port’s infrastructure.

Dubrovnik is one of the best known tourist attractions in Croatia and one of the most popular cruise ship destinations, generating approximately seven per cent of the tourism traffic in the country.

The proceeds of the loan will be used to extend the berth area of Dubrovnik port, which will result in increased space for cruise ship docking and additional land area for dockside development. The project will provide much needed physical space for future construction of passenger terminal facilities, which will be funded under a private sector concession.

“The modernisation of Dubrovnik port is an important project for the Croatian tourism industry. This project will improve the port’s capacity and will enable the city of Dubrovnik to build on the commercial benefits resulting from increasing cruise volumes”, said Sue Barrett, EBRD Director for Transport.

DPA’s General Manager Mr. Vlaho Đurković said that this investment will round up the necessary infrastructural basis for further investment in the passenger port modernisation through development of passenger facilities, based on concession model of Public Private Partnership.

The EBRD’s initial €26.5 million loan to the Dubrovnik Port Authority is financing the expansion of the port’s wharf in order to enable it to increase capacity and accommodate larger ships.

In May 2010 the EBRD provided a €12 million loan to finance the expansion of the Port of Sibenik, helping Croatia to diversify tourism opportunities and promote lesser known destinations.

To date the Bank has invested over €400 million in transport projects in Croatia. 

Since the beginning of its operations in Croatia, the EBRD has committed €2.2 billion in various sectors of the country’s economy, mobilising additional investments worth €3 billion from other sources.

Last updated 28 July 2010

Ina Coretchi
London - Tel: +44 20 7338 7874

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