HKO and Croatian Exporters Begin Cooperation Aimed at Strengthening Exports

Croatian Credit Insurance (HKO) and Croatian Exporters (HIZ) signed a business cooperation agreement on Wednesday, aimed at improving the business environment and creating conditions for export growth.

Exporters and HKO intend to establish regular cooperation through joint initiatives and activities as well as the exchange of information, and it was signed by HKO’s CEO Zvonimir Samodol and HIZ’s President Darinko Bago.

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Bago stated that 90 percent of exporters are small and medium-sized enterprises that need and expect strong support from the financial system in providing cheap sources of financing, as well as support for exports such as guarantee programs, loans for foreign buyers, and (re)insurance.

– By signing the agreement with Croatian Credit Insurance, we want to emphasize and inform exporters about the importance and possibilities of insuring their export receivables, in order to strengthen exports, the most important generator of the economy of the Republic of Croatia, Bago stated.

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Samodol hopes that the agreement will contribute to efforts to facilitate exports for entrepreneurs, as well as that more and more exporters will recognize the advantages that open up to them by insuring their receivables and protecting their own liquidity.

HKO is wholly owned by the Croatian Bank for Reconstruction and Development and is the only company in Croatia specialized exclusively for the insurance of receivables. It insures receivables with payment terms of up to one year, related to the delivery of goods and services between business entities, regardless of their size and economic activity, as well as receivables related to the sale of goods both in Croatia and abroad. So far, exports have been insured in more than 50 countries.