Extension of the Framework for SME Financing in Croatia

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 6316

Status Complete

Location

Croatia

Business Sector

Financial Institutions

Notice Type

Private

Sub-projects

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 6316

Status Complete

Location

Croatia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

06 Jul 1999

Disclosure date

07 Jun 1999

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

DM 60 million (EUR 31 million) extension of the framework facility for a number of majority privately owned Croatian banks, established and operating under the laws of Croatia.

Project objectives: The framework facility represents a maximum amount of funding designated for financing a number of financial intermediaries in Croatia. The financing will be on-lent to small and medium sized projects on a case-by-case basis. Part of the loans (e.g. 30 per cent) will be used for financing mortgage lending.

Transition Impact

The framework facility will allow further support to be provided to SMEs through the provision of long-term funding for investment projects and support for further development of the mortgage financing market.

The facility will promote the development of a market-oriented economy by supporting the growth, development and strengthening of private sector financial institutions in Croatia. It will also support the private sector in general by providing the necessary term funds for the development of small and medium sized private enterprises.

In addition, the establishment and implementation of the framework would provide a competitive tool for the local banks and allow the Bank to impose conservative covenants aimed at improving the operations of individual institutions (e.g. a reduction of off-balance-sheet exposure, increase in liquidity etc.).

The Client

Four or five private Croatian banks, with an established track record in operations, demonstrating good on-going financial status, professional management and experience in financing small and medium-sized enterprises (SMEs).

EBRD Finance

Framework facility for an aggregate amount of up to DM 60 million (EUR 31 million), with a minimum commitment of DM 5 million and a maximum commitment of DM 20 million per bank.

Project Cost

DM 60 million (EUR 31 million)

Environmental Impact

Participating banks will follow the EBRD's Environmental Procedures for Intermediated Lending through Local Banks in relation to all sub-loans financed through credit lines. In implementing these procedures, the participating banks 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.

Technical Cooperation

None

Transition impact

ETI Score:30

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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