- EBRD loan of up to €75 million to UniCredit Leasing Croatia
- Improving access to finance for local micro, small and medium sized businesses
- Supporting energy efficiency investments
Micro, small and medium sized enterprises in Croatia will benefit from an EBRD loan of up to €75 million to UniCredit Leasing Croatia.
The funds will support leasing finance for local businesses, especially leases for green equipment and technologies. UniCredit Leasing Croatia will focus on attracting new clients and expanding its operations outside the capital Zagreb.
Despite the importance of micro, small and medium-sized enterprises for the Croatian economy, access to finance is often quoted as one of the major obstacles to develop and expand business.
The EBRD loan will help improve access to finance and also introduce the Green Economy Transition (GET) Technology Selector to the local market. This tool will enable UniCredit Leasing Croatia to extend leases that finance high performing assets which have been assessed and pre-approved as eligible energy efficient technologies.
The pre-approved technologies meet minimum performance requirements and perform beyond current market practices resulting in clear benefits and environmental improvements. The list is regularly updated to include the latest technologies and vendors. It also provides locations where listed technologies can be purchased.
Victoria Zinchuk, EBRD Director, Head of Croatia, said: “Under conditions where many micro, small and medium-sized enterprises only have limited access to traditional finance, leasing represents an attractive and valuable alternative. We are pleased to cooperate with UniCredit Leasing Croatia to strengthen the role of leasing in the private sector. Better access to funds will encourage entrepreneurial activity which in turn will support the country’s continuing growth.”
UniCredit Leasing Croatia is the largest leasing company in Croatia, fully owned by Zagrebačka banka d.d., Croatia and a long-standing EBRD partner.
Melis Ekmen Tabojer, EBRD Director, Financial Institutions, Insurance and Financial Services, added: “We are excited for UniCredit Leasing Croatia to become our first leasing partner to support energy efficient investments in Croatia and to support the country’s transition to a greener economy.”
The EBRD signed its first project in Croatia in 1994 and has invested more than €3.8 billion in 211 projects in the country to date. The Bank’s activities cover all areas of the economy but are especially strong in the infrastructure, corporate, financial institutions and energy sectors.