Brussels, 16/04/2010 (Agence Europe) - On Thursday 15 April, the European Investment Bank (EIB) decided to lend €250 million to the Croatian Reconstruction and Development Bank (HBOR - Hrvatska Banka Za Obnovu i Razvitak) to finance projects of small and medium-sized companies (SMEs), mid-cap companies and municipalities in Croatia and in the area of industry and services, including tourism, small and medium-scale infrastructure schemes promoted by local authorities and projects supporting the establishment of the knowledge based economy and investments in the areas of energy, environmental protection, health and education. This loan is in line with the EIB's priority of strengthening its support for Europe's SMEs to help mitigate the effects of the current financial crisis. It is expected that grant schemes provided by the European Commission under the Energy Efficiency Finance Facility will be included in the loan.
The EIB has also granted a second loan of €34 million to finance the upgrading of an existing vinyl chloride monomer plant and the construction of a new plant for the production of polyvinyl chloride (PVC) of Dina Petrokemija d.d., a subsidiary of Dioki d.d. The project aims at meeting local and international demand for PVC and is line with Croatia's industrial policy to diversify and develop its manufacturing industry. This is the first time that EIB funds have supported a larger project promoted by a corporate in Croatia. (O.L./transl.jl)