The European Investment Bank (EIB) Group has offered a funding package of up to €169m ($178.46m) to Privredna Banka Zagreb (PBZ), a member of the Intesa Sanpaolo Group, to enhance company growth in Croatia.
This initiative is aimed at expanding financing options for a variety of Croatian companies, enhancing their sustainability and competitiveness.
Under the agreement’s first component, PBZ will receive a guarantee line from the EIB worth up to €100m, specifically earmarked for Croatian large companies and Mid-Caps.
A second element involves the European Investment Fund (EIF) offering guarantees of up to €69m for small and medium-sized enterprises (SMEs) as well as small Mid-Caps within Croatia.
These funds will partly be directed towards advancing climate action initiatives and will introduce corporate bonds issued by Mid-Caps.
EIB vice-president Teresa Czerwińska said: “We are supporting PBZ in a pioneering financial project for Croatia, deepening the capital market in the process.
“This will help channel significant funding to Croatian companies and, by extension, strengthen their balance sheets and their green credentials.”
Over the next two years, PBZ plans to utilise the EIF support, underpinned by the InvestEU programme, to offer favourable financing terms to Croatian SMEs and small Mid-Caps.
The aim is to assist these businesses in adopting greener practices, fulfilling liquidity requirements, and enhancing their overall competitiveness.
PBZ management board president Dinko Lucić said: “We are pleased to announce these new guarantee programmes in collaboration with the EIB and EIF, offering support to our clients across large corporates, mid-caps, and SMEs.
“We particularly want to highlight the recent launch of an innovative financing instrument – minibonds – which provide our clients with faster and more flexible access to capital. This partnership fosters growth and strengthens our clients’ competitiveness, providing them essential support to realise their investment plans.”
“Croatian bank PBZ secures €169m financing from EIB” was originally created and published by Leasing Life, a GlobalData owned brand.
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Publish date : 2024-11-21 08:02:00
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