EIB Provides Guidelines to Croatia for Strengthening Capital Markets and Innovation

The European Investment Bank (EIB) will provide Croatia with guidelines on policies to evolve into a regional hub for financial technologies and capital markets. Under a new advisory agreement with the Ministry of Finance of the Republic of Croatia, the EIB will support Croatia in its intentions to become one of the leaders in the field of financial technologies. Concurrently, the EIB intends to advise the Croatian Agency for Small Business, Innovation and Investment HAMAG-BICRO on how to assist small and medium-sized enterprises (SMEs), as well as startup companies, in enhancing their investment readiness and gaining access to the funds they need in the early stages of development. The advisory support is financed by resources from the Invest EU Advisory Hub program.

– As technology develops at lightning speed, and strong capital markets become increasingly important, Croatia has a unique opportunity to establish itself as one of the regional leaders in the innovation ecosystem. Through these two partnerships, we will dedicate ourselves to supporting the country in strengthening economic growth and competitiveness – stated EIB Vice President Teresa Czerwińska.

The goal of the EIB’s agreement with the Ministry of Finance relates to assisting in the establishment of a ‘Fintech Hub’, a center for the development and implementation of advanced technologies in the financial sector, which would act as a catalyst for innovation in this area. It would serve startup companies, as well as established businesses, and ensure compliance with the ongoing changes in European Union regulations and movements in global markets.

As part of the agreement reached, the EIB will assess the current state of the financial technology system in Croatia, compare it with leading centers in Europe, and provide recommendations regarding legal and operational issues. This will contribute to promoting the introduction of advanced financial technologies in Croatia and strengthen its role in the European financial technology arena.

The EIB will also conduct research on how to strengthen capital markets in Croatia, identifying opportunities to enhance the investment environment. This research, which is intended as a basis for a new Croatian capital market development strategy for the period from 2025 to 2030, will compare Croatia with innovative small and established large capital markets, all to position itself as a regional hub for initial public offerings in Central and Eastern Europe and thus pave the way for the establishment of the UTK.

– In collaboration with the European Investment Bank, we will continue to invest efforts to accelerate the development of the fintech industry and capital markets. This will ultimately improve access to capital for fintech entrepreneurs, startups, and the broader business community – stated Deputy Prime Minister and Minister of Finance Marko Primorac.

– Today’s partnership represents a significant step towards positioning Croatia as a regional hub for fintech and further strengthens our capital market. By promoting the development of the fintech sector and expanding opportunities in the capital market, we enhance Croatia’s position both domestically and internationally. I thank the European Investment Bank for their cooperation and I am confident that this initiative will contribute to the long-term economic growth of Croatia – added the Deputy Prime Minister.

In collaboration with HAMAG-BICRO, the EIB will work on strengthening the Croatian innovation ecosystem by implementing training programs for SMEs and startup companies in areas such as business strategy, financial planning, and investor engagement. Among the set goals is to assist Croatian companies in utilizing EU funds, including the European Innovation Council Accelerator. The planned cross-border mentoring and corporate partnership programs will enable knowledge exchange to support startup companies in the broader application of their technologies and access to a wider market.

– The increasingly complex conditions in the demanding market require our entrepreneurs to have a very high level of readiness – both in terms of project preparation and investment – which can be achieved much faster with quality support from those who are well-versed in economic and technological trends. In our agency, our priority is to continuously provide services that make our companies’ portfolios more innovative, competitive, and sustainable. In this sense, this partnership with the EIB, realized in the form of an investment center for entrepreneurs, will significantly contribute to raising the quality of their knowledge structure, which can then be utilized when applying for financing from EU funds – stated Vjeran Vrbanec, CEO of HAMAG-BICRO.