Project description
and objectives:
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A proposed € 20 million senior loan that would allow Erste and Steiermärkische Bank d.d. (ESB) to expand its lending operations and to provide medium to long-term funding to small and medium-sized companies in Croatia. To expand ESB's lending operations in the SME sector and to provide medium to long term funding to small and medium-sized companies in Croatia.
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Transition impact:
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By supporting ESB and increasing the term funding available to the SME sector, which has a higher growth rate, the EBRD contributes to private sector development in Croatia. This leads to increased competition and entrepreneurship promotion. Transition impact also derives from improving local employee skills by supporting an institution strongly committed to the local market. This should have a long-lasting effect on the Croatian financial sector.
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The client:
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ESB is the eighth largest bank in Croatia with approximately €667 million in assets. The bank's consolidated market share of total banking assets is around 4 per cent.
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EBRD finance:
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€20 million senior loan.
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Total project cost:
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€20 million.
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Environmental impact:
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ESB will follow the EBRD's Environmental Procedures for Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, ESB will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Zlatko Greguric, Operation Leader: greguriz@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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