'How to create an encouraging environment for investments despite all obstacles' was the topic of the first panel at Lider invest in Mursko Središće. One study states that the entrepreneurial climate in Croatia is restrictive rather than stimulating, and that one becomes an entrepreneur in Croatia out of necessity, not desire.
What makes Croatia a non-entrepreneurial country, and is it a competition like the fastest finger, was questioned by Vjeran Vrbanec from HAMAG-BICRO. Vrbanec responded that such a competition does not actually exist and that it is a competition called a permanently open call, which has its advantages and disadvantages, but that people have a wrong perception of this competition. He explained that being first to apply does not mean that the project will receive funding, but rather that it will simply be the first reviewed by experts. Whether it will meet the criteria and receive funding does not depend on the speed of the application.
90 percent of EIB investments go to the EU area
Anton Kovačev, head of the EIB office in Croatia, briefly described the EIB’s work over the past 20 years and stated that more than 7 billion euros have been invested through the EIB during this period, and if the EIF is added, these incentives rise to 8 billion.
– Just last year, around 780 million euros were invested through the EIB – said Kovačev, adding that the EIB has become more adaptable in the last two years when it comes to investments.
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As Kovačev hinted, previously the EIB could only invest in investments, but now it can also invest in working capital, restructuring debt if it is for the purpose of investment. He also mentioned that there are limitations on the amounts they can provide, but these are lower limits.
– The lower limit is 25 million euros while in other countries it is 50 million, while those with even smaller investments can use EIB funds from partners such as HABOR and commercial banks – said Kovačev.
The EIB is not just an EU bank, but the EIB is also a Croatian bank because the owner of the EIB is not the EU but the member states, Kovačev added, concluding that 90 percent of EIB investments go to the EU area and that the latest and freshest project financing KBC Rijeka.
The CEO of HAMAG-BICRO stated that there is a great rush for programs because entrepreneurs are informed and want to finance their investments with relatively cheap money.
– We have positioned ourselves as one of the more important institutions that can help small, micro, and medium-sized entrepreneurs, which they have recognized – said Vrbanec.
