Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists of a multi-beneficiary intermediated loan (MBIL) to support private and public investments promoted by mid-caps, private sector entities as well as public sector entities in Croatia through the Croatian National Promotional Bank (HBOR). The project will have a dedicated climate action and environmental sustainability (CA&ES) lending window and will contribute 100% to Cohesion objectives.
The aim is to enhance financing access to mid-caps, private-sector (non SMEs and non Mid-Caps) and public sector entities, focusing on investments that promote the green transition and climate resilience in Croatia.
The proposed multi beneficiary intermediated loan (MBIL) with Croatia's Bank for Reconstruction and Development (HBOR) aims at financing investment projects promoted by Mid-Caps, other private sector and public sector entities in Croatia. Approximately 30% of the investments are expected to support projects contributing to climate action & environmental sustainability (CA&ES). The operation will benefit cohesion regions, all Croatian regions being an EIB cohesion priority region referred to under TFEU Article 309(a).
The proposed operation covers the following sectors among others: energy efficiency improvements in new and existing buildings, non-motorized transport, renewable energy generation ? mostly photo-voltaic, and composting facilities under biological waste treatment. In so doing the proposed operation will support HBOR's ambition to become a reference institution to foster green and digital transition in Croatia, in cooperation with the local banking sector.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.