Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

07 Apr 1998



PSD disclosed:

27 Mar 1998

Project Description

The project consists of a mortgage finance facility (MFF) of DM 200 million, comprising an A loan of DM 100 million for the EBRD's account and a B loan of DM 100 million to be syndicated among participating banks.
The facility will enable ZB to make long-term housing loans to private customers for purchasing (or renovating) their residences in Croatia. The proposed facility will also allow ZB to expand its mortgage finance operations and to improve its existing maturity mismatch of its assets and liabilities by providing long-term funding.

Transition Impact

The two key areas of transition impact are:
  • making long-term funds available to private individuals to purchase a private residence in Croatia. Home ownership is one of the hallmarks of a market-oriented economy, and the project will contribute to extending this opportunity to an increasing number of Croatians;
  • to continue to support private sector banks to enable them to offer a full range of banking services.

The Client

Zagrebacka Banka (ZB) is the largest Croatian bank, providing a full range of wholesale, investment and retail banking services. ZB employs some 4,300 people and serves over 1,800 corporate borrowers, 60,000 corporate depositors, over 1 million retail depositors and a rapidly expanding number of retail borrowers.
As of September 1997, ZB had total assets of DM 6,423 million equivalent and shareholders' equity of DM 650 million equivalent. ZB operates from its headquarters in Zagreb and has a network of 127 branches.

EBRD Finance

The EBRD will provide an A loan of DM 100 million for its account and a refinancing guarantee after seven years to the participants of the B loan. The total amount of the refinancing guarantee will not exceed DM 50 million.

Project Cost

DM 200 million (ECU 113.6 million).

Environmental Impact

ZB will take measures to ensure that any property financed through this facility is not or will not be constructed on contaminated land or using materials hazardous to the environment, health and safety. ZB will also ensure that properties are in compliance, at a minimum, with national and municipal planning controls and building standards.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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