ZAGREB, June 5 (Hina) - As of Thursday, the Croatian Bank for Reconstruction and Development (HBOR) is applying up to 1.5 percentage points lower interest rates. This is its fourth lowering of interest rates in the past two
years.
ZAGREB, June 5 (Hina) - As of Thursday, the Croatian Bank for
Reconstruction and Development (HBOR) is applying up to 1.5
percentage points lower interest rates. This is its fourth lowering
of interest rates in the past two years. #L#
HBOR Supervisory Board chairman, Finance Minister Mato Crkvenac,
said that this meant that the end user -- an exporter from areas of
special government concern, with war damage, in agriculture or from
an island, would pay two percent interest rates. They were three
percent until now. The interest rate for all other exporters has
been lessened from 5.5% to four percent a year. The highest interest
rate has been decreased from 7.5% to an annual seven percent,
Crkvenac said.
This is a part of efforts the HBOR is exerting with the aim of
further development and support to the Croatian economy. It can
also lessen interest rates for stable macroeconomic and financial
indicators, to stabilise the share of debts in GDP, the fact that
profit is not primary for the HBOR, and for business efficiency, he
said.
The finance ministry is preparing activities regarding regional
and municipal development in cooperation with the European Bank for
Reconstruction and Development, the European Investment Bank, the
Council of Europe's Investment Bank and the World Bank.
The minister said that of the 120 million kuna (EUR15.9 mln) in the
Fund for Regional Development, 90 million had been activated for
business zones, infrastructure, markets and the like.
(hina) lml sb