Local governments in Croatia have been progressively taking on responsibilities related to the development and upgrade of public infrastructure in the areas of child care, social welfare, primary health care, pre-school and elementary education. However, they often do not have adequate long-term financial resources to meet existing national standards for essential services.
Through ongoing collaboration between The Council of Europe Development Bank and The Croatian Bank for Reconstruction and Development (HBOR) spanning 20 years already we are helping local governments to fulfil their mandate as providers of public. Our loans support the municipal sector in its endeavour to develop and upgrade its social infrastructure as a necessary condition for a balanced and sustainable economic development and of improved standards for the population throughout Croatia.
Financing instrument: Loan
Duration: Collaboration spanning 20 years
PRESENTATION OF THE ORGANIZATION
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate. Through the provision of financing and technical expertise for projects with a high social impact in its member states, it actively promotes social cohesion and strengthens social integration in Europe.
The Croatian Bank for Reconstruction and Development is the development and export bank and export credit agency of the Republic of Croatia whose main task is to promote the development of the Croatian economy. By lending, investing in venture capital funds, insuring exports against political and commercial risks, issuing guarantees and providing business consulting services, HBOR builds bridges between entrepreneurial ideas and their realisation with the goal of strengthening the competitiveness of the Croatian economy.