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The European Guarantee Fund (EGF), part of the €540 billion EU recovery package agreed in 2020, has approved funding amounting to almost half its target for 2021. After clearance under the EU state aid notification process in December 2020, the initiative has now approved €11.7 billion in support of European businesses struggling with the economic fallout of the COVID-19 pandemic. This is almost half the fund’s target for 2021. The fund mobilises additional financing, and initiatives financed so far are expected to generate €93.9 billion in funding for the EU economy. With €2.1 billion in financing also signed at the end of April, EGF funding is already reaching businesses across the European Union.
The European Investment Bank (EIB) and the Croatian Bank for Reconstruction and Development (HBOR) today signed an agreement to help HBOR to set up its own advisory services and enhance its capacity to support investments in key sectors of the Croatian economy, such as the environment, resource efficiency, the circular economy, smart cities and social infrastructure.