ZAGREB, June 10 (Hina) - The World Bank's International Financial Corporation (IFC) has approved a EUR9 million loan to Croatia Bank, for a period of eight years, a two-year grace period, with an approximately five percent interest
(eurlibor + 1.75%).
ZAGREB, June 10 (Hina) - The World Bank's International Financial
Corporation (IFC) has approved a EUR9 million loan to Croatia Bank,
for a period of eight years, a two-year grace period, with an
approximately five percent interest (eurlibor + 1.75%). #L#
A loan agreement was signed in Zagreb on Monday by Croatia Bank
chairman of the board Vedran Kuis and the IFC's director for south
Europe and central Asia, Khosrow Zamani.
The bank will use the loan for investments for craftsmen and small
and medium-sized entrepreneurs in industry, agriculture, tourism,
and trade, said Kuis. Part of the funds will also be used for private
house-building.
Zamani said the agreement was proof of the IFC's confidence in the
stability of the entire Croatian banking system.
The IFC plans to invest in Croatia Bank's assets in order to
increase the bank's value and help it find the best strategic
partner, said Zamani. He also announced further loans for the
bank.
(hina) ha