Vukovar Mayor Ivan Penava welcomed the Government’s decision on Friday that allows Borovo to take out a loan of 46 million kuna from the Croatian Bank for Reconstruction and Development (HBOR), with shares of Končar and HT as collateral for the loan, stating that it is still an emergency measure while the long-term solution for Borovo is finding a strategic partner.
>>>Plenković: HBOR Loan for Borovo on Thursday at the Government, I Expect a Quality Restructuring Plan
– I welcome and thank the Government for the decision made which will enable Borovo to operate normally and pay its workers for the next few salaries. This is an emergency measure, and the only real solution is finding a strategic partner for the long-term survival of Borovo, Penava stated at a press conference.
He confirmed that the Government’s decision allowing Borovo to take out a new loan is the result of intensive contacts with the Prime Minister of the Republic of Croatia, Andrej Plenković, with whom he, as he emphasized, tried to find the best solution for Borovo’s current exit from business difficulties.
>>>The state will secure a new loan for Borovo with shares of Končar and HT
Vukovar Mayor Penava also expressed satisfaction with the recent appointment of a new Supervisory Board in Borovo, which, he said, includes Vukovarians who understand the issues facing Borovo.
At the press conference, representatives of the unions in Borovo were supposed to be present, but they did not come because, as Penava explained, they could not leave their workplaces.
