The Croatian Bank for Reconstruction and Development (HBOR) and the Croatian Ministry of Regional Development and EU Funds (MRRFEU) signed a Finance Agreement for the implementation of the financial instrument “Loans for Energy Efficiency of Entrepreneurs”. The 250 million euro instrument will enable entrepreneurs in various industries to access loans at favourable interest rates and with the possibility of a partial write-off of the loan principal. The goal is to encourage energy efficiency and business sustainability, thereby providing new support to the Croatian economy. Loans will be available to entrepreneurs in the first half of 2025.
“HBOR intends to empower entrepreneurs in their efforts to achieve energy efficiency and sustainable development,” said Hrvoje Čuvalo, President of the Management Board of HBOR. “We believe that this initiative will encourage the implementation of innovative solutions that will not only improve the competitiveness of our entrepreneurs but also contribute to the preservation of the environment and the long-term sustainability of our economy.”
“Support to entrepreneurs for investments in energy efficiency is essential for achieving the goals of green transition,” added Minister Šime Erlić. “With this innovative financial instrument, we will encourage a new investment cycle for entrepreneurs, which will bring us closer to achieving these goals and at the same time contribute to reducing costs and increasing the competitiveness of entrepreneurs in Croatia.”
The financial instrument will be implemented through commercial banks that will be selected by the Croatian Bank for Reconstruction and Development through a public procurement procedure. In this way, approximately 125 million euros of banks’ private capital will be provided. Loans of up to 3 million euros will be available to entrepreneurs at favourable interest rates since a part of the loan will be interest-free thanks to the funds of the European Structural and Investment Funds.