In accordance with the order of the Ministry of Physical Planning, Construction and State Property and based on the Law on the Reconstruction of Buildings Damaged by Earthquakes, Erste Bank has enabled the opening of a special purpose account for earthquake recovery.
This account is intended for owners of buildings, houses, and apartments damaged in the earthquakes of 2020 in the areas of the City of Zagreb, Krapina-Zagorje County, Zagreb County, Sisak-Moslavina County, and Karlovac County, from which funds for reconstruction will be disbursed to residential property owners based on the issued Decision on Reconstruction.
As of this week, the account can be opened at any Erste Bank branch, and the funds in the accounts will be strictly designated and can only be used based on the Ministry’s order for charging the user’s account for reconstruction and remediation costs. Additionally, it will not be possible to use other services and additional products from the bank’s offer, such as debit or credit cards, standing orders, and similar, with this account.
For this special purpose account, Erste Bank has also enabled balance display in online banking, and account users are exempt from fees. Furthermore, it is important to note that withdrawals from the special purpose account are possible exclusively based on the order of the Ministry of Physical Planning, Construction and State Property, i.e., the Ministry issues a form of approval for the execution of the order, and the owner with the certified approval from the bank can request a withdrawal from the special purpose account. In the event that the funds are not fully utilized or the owner withdraws from the project, the funds will be returned to the state budget at the Ministry’s order.
