EIB Provides EUR 20 Million Loan to PBZ Bank for SME Financing

Date: 
09 Jan 2015

The European Investment Bank (EIB) provided a EUR 20 million loan to Privredna Banka Zagreb d.d. (PBZ) to co-finance projects of SMEs and midcap companies in Croatia. The loan is being granted in the framework of the EU Program Loan for SMEs and midcaps. This loan is in line with the EIB’s priority of improving the access of Europe’s SMEs to affordable financing for their activities. 

“EIB funds, intermediated through PBZ, a well-established EIB partner financing institution, will help to increase the competiveness of Croatia. The loan is designed to support mainly SMEs, which are the backbone of the Croatian economy in terms of both employment and economic growth," said Dario Scannapieco, EIB Vice-President responsible for lending operations in Croatia. “PBZ has been active for many years in establishing and supporting numerous programmes aimed at the further development of SMEs, thereby showing that it plays a significant role in encouraging the growth and development of the country's small and medium-sized segment. This is also underlined by this credit line in the amount of EUR 20 million concluded with the EIB," said Ivan Gerovac, Member of the Management Board of Privredna Banka Zagreb.

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Country: 
Croatia