Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists of a "Linked Risk Sharing Guarantee" on a new loan portfolio provided by the intermediary, ERSTE & STEIERMAERKISCHE BANK DD (ERSTE or ESB), to mid-caps in Croatia.
Through the intermediary, the aim is to support the final beneficiaries in funding their investment and growth efforts as well as their working capital needs. The EIB guarantee will also enhance ESB's lending capacity and risk appetite on a "semi-granular" portfolio of mid-cap loans which will benefit from a financial advantage in their risk pricing and cost of lending. Additionally, the EIB support will attract diverse funding sources for Croatian mid-cap businesses.
This Linked risk sharing operation is designed to provide support to Mid-caps in Croatia in order to foster their access to finance and contribute to the long-term economic growth. The proposed risk sharing operation target Croatian MidCaps, a segment of the Croatian business fabric which is not covered by other National and European initiatives. Specifically, the guarantee will address the funding needs of Croatian midcaps in their growth ambitions, providing benefits such as higher financing volumes, risk-taking support, or reduced collateral requirements thereby alleviating some of the pressures faced by the real economy and contributing to job security and growth.
The Financial Intermediary of the present operation is an established player in the target market and a repeat client of the EIB Group, having successfully implemented previous operations. The guarantee may alleviate capital and credit related concerns of the Financial Intermediary and thereby free up additional lending capacity. The operation is expected to carry a signalling effect, thereby crowding in other parties.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
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).
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
Related publications