HBOR OFFERS MORE FAVOURABLE LOAN CONDITIONS FOR EXPORTERS

ZAGREB, April 1 (Hina) - The Croatian Bank for Reconstruction and Development (HBOR) is as of today offering more favourable credit conditions for exporters, with an interest rate of 4.5 percent. The bank said in a statement Tuesday it was also starting with a programme of export loans with framework credit lines for foreign clients, and was joining in the implementation of a tourism programme, "Incentives for Success". #L# The head of the bank's supervisory committee, Finance Minister Mato Crkvenac, said the HBOR should this year step up its export support activities and the realisation of development programmes. With 30 million kuna already made available, the HBOR will secure an additional 30 million kuna for non-repayable funds for small companies just starting out, Crkvenac told a news conference. The HBOR's new loan programme provides loans for foreign buyers when buying Croatian goods. The HBOR has a similar programme of loans for capital investments, and now it offers loans for the export of consumer goods as well. The credit conditions for preparing products for export and import have been improved -- the minimum credit amount of 300,000 kuna is rescinded, maturity is extended from two to three years and the interest rate is reduced from 5.5 percent to 4.5%. This interest rate applies to all new loans. In the past ten years the HBOR granted 5.15 billion kuna worth of export loans. Last year, 1.4 billion kuna was provided for financing exports, with 95 companies receiving loans, 22 of which are from the field of tourism. From its establishment in 1992 until the end of February this year, overall loan activity of the HBOR reached 16.7 billion kuna, of which 15% or 2.5 billion kuna was granted for tourism. (hina) lml sb