EBRD invested 176 million euros in Croatian private sector projects last year

The European Bank for Reconstruction and Development (EBRD) invested 176 million euros in private sector projects last year focusing on supporting businesses affected by the pandemic, while total investments in Croatia to date amount to 4.1 billion euros, and the current portfolio value is 850 million euros, the EBRD announced.

Last year’s investment was the largest in the past three years, and during 2021, 200 million euros were also withdrawn, indicating that EBRD funds are being used for active support of the Croatian economy, the statement said.

– EBRD is very active in Croatia, but it is not here just to finance projects – emphasized the EBRD director for Croatia Victoria Zinchuk, adding that the EBRD team in Zagreb raised more than 100,000 euros for earthquake victims in the Sisak-Moslavina County thanks to the initiative of its employees and the EBRD’s ‘Community Initiative’ program.

The collected funds will support the equipping of the building of the “Children’s Home Vrbina Sisak”, the construction of a new “Wonder Room” for children with special needs in the region, and finance the construction and renovation of several private homes for vulnerable families.

The focus of the EBRD in 2022 will be on developing and promoting the market of renewable energy sources. This approach, it is emphasized, is aligned with the priorities of the government, which recently introduced a new support program for investments in renewable energy sources, which is expected to attract new investments in the sector and contribute to achieving goals regarding energy from renewable sources, including the goals set in the national Recovery and Resilience Plan.

The EBRD emphasizes that it is crucial for Croatia to implement the necessary steps to improve the electricity grid to enable the best possible connection of renewable energy sources to the national grid. In partnership with the Renewable Energy Sources Association of Croatia (OIEH), the EBRD has developed an action plan that identifies priority investments and activities to enable the seamless integration of renewable energy sources into the country’s energy grid.

It is also noted that the EBRD and OIEH have developed a comprehensive guide for investors in the sector, which is available on the OIEH website. The bank financed the preparation of the study with an amount of 150,000 euros.

Furthermore, the EBRD has identified three renewable energy projects that it plans to finance soon, thus becoming a leading investor in that sector. The EBRD’s program for business consulting for small and medium-sized enterprises also had a dynamic year, the statement says. Namely, with the support of the European Advisory Center for Investments and the EBRD’s Small Business Impact Fund, more than 32 consulting projects were initiated during the year. Additionally, several training sessions were organized for entrepreneurs, women in supervisory boards, small and medium-sized enterprises in the tourism and hospitality sector affected by the crisis caused by the Covid pandemic, as well as a webinar aimed at startups on the topic of “Sources of financing”.