Europe > Southern Europe > Croatia > Croatia become shareholder of the European Investment Bank

Croatia: Croatia become shareholder of the European Investment Bank

2013/07/03

Today, as Croatia joins the European Union, it as well becomes a shareholder of the European Investment Bank, which has been providing loans in Croatia for additional than twelve years. In addition, Croatia is the initial country to have benefited from the technical initiative JASPERS before becoming a member of the EU. JASPERS helps nations to prepare projects for EU grant financing.

"Croatia's success is a good example for other nations in the Western Balkans region that are working towards stability and prosperity. The EIB, as the EU's Bank, will continue to finance priority projects in Croatia and put the country in a better position to face current and next economic challenges," EIB President Hoyer stated.

The EIB has been operating in Croatia since 2001 and has provided loans totalling 3.25 billion euros to date, thereby fostering the integration process with the EU. Almost half of the EIB's lending in Croatia to date (48%) consists of support for SMEs.

It is not only the Bank that is providing finance in Croatia.

Upon joining the EU, Croatia will become eligible for EU grants.

The Joint Assistance to Support Projects in European Regions (JASPERS) - a technical assistance initiative provided jointly with the European Commission, the EBRD and KfW, which helps with the selection and preparation of projects financed by EU grants - commenced operations in Croatia at the beginning of 2012. The European Investment Fund (EIF) which is a subsidiary of the EIB, provides risk financing solutions to financial intermediaries to support SMEs and foster innovation in Europe.(ANSAmed).

© Copyright ANSA - All rights reserved

Florida State University
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