EBRD President to visit Croatia

By EBRD  Press Office

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EBRD President Thomas Mirow will visit Croatia 12-13 February 2009, in his first visit to the country since taking office last July and ahead of the EBRD Annual Meeting in Zagreb in 2010.

The visit underscores the Bank’s commitment to continuing its strong partnership with Croatia and the region both in these current turbulent times and in the future.

In this global crisis environment, the EBRD is willing and able to play an important role. Uniquely positioned as the largest financial investor in Croatia and in the region, the Bank is committed to addressing the consequences of an erosion of confidence in both the financial sector and the real economies.

The decision to hold the EBRD’s 2010 Annual Meeting in Zagreb is a result of the long and fruitful cooperation between Croatia and the EBRD and provides an opportunity to showcase Croatia’s attractive investment opportunities and to foster better ties with foreign investors looking to extend their involvement in this dynamic region.

During his visit, President Mirow will meet senior state officials, business partners and potential clients.

Since the beginning of its operations in Croatia in 1994, the EBRD has invested a total of €1.88 billion, mobilising an additional €3 billion from other sources. The Bank’s investments have been targeted at the financial sector, transport and municipal services, tourism and the corporate sectors.

The EBRD’s immediate priorities in Croatia are to work especially with the financial sector to help offset the impact of the economic crisis and keep credits flowing to small and medium sized enterprises via the banks.

Under its longer-term strategy for Croatia, the EBRD will also continue to foster regional development by investing in local, municipal and national infrastructure and promoting renewable energy projects and investments in energy efficiency. The Bank remains committed to the privatization process and to the restructuring of companies with the aim of making them more competitive and assisting Croatian companies expand their regional operations.

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