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    Reference: 20120307
    Release date: 16 May 2013

    Promoter – Financial Intermediary

    The promoter is a privately held joint stock company, a subsidiary of a leading hotel management company in Croatia.

    Location

    Description

    Renovation and expansion of hotel 's facilities situated in two locations within the Dubrovnik area.

    Objectives

    The project comprises the redevelopment, modernisation and upgrading of a number of tourist accommodation and service units on two sites close to Dubrovnik, Croatia (Mlini and Srebreno).

    Comments

    The project is in the tourism sector

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 50 million

    Environmental aspects

    If located within the EU, most of the proposed investments would fall under Annex II of Directive 2011/92/EU and none would fall under Annex I. The nature and scale of the investments are such that they would normally be screened out by the Competent Authority. The position of the relevant authority in Croatia will be established at appraisal.

    Both Mlini and Srebreno sites have sea frontage with existing hard construction elements within the Mediterranean International Coastal Zone Management Protocol limits. Funding will not be available for any new, hard developments within the boundary.

    Procurement

    The Bank will require the promoter to ensure that the procurement procedures followed are in accordance with the Bank’s Guide to Procurement and the relevant applicable EU public procurement rules

    Status

    Signed - 20/01/2014

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Croatia Services