ZAGREB, Sept 5 (Hina) - The Croatian Reconstruction and Development Bank (HBOR) is launching a programme of granting loans to small and medium businesses in a new way, with invested funds being replaced by recapitalisation in exchange
for a share in the capital stock. The programme is aimed at increasing production and employment, the chairman of the HBOR Supervisory Board, Finance Minister Mato Crkvenac, said on Wednesday. The HBOR will invest in those companies whose development projects will secure profitable operation, intensive growth and a rise in employment. The bank will make 30 million kuna (USD 3.58 million) of such investments by the end of this year. It is estimated that average investments will range between 300,000 and two million kuna (approx. USD 35,880 - 239,230). The state and the bank are interested in leaving the ownership structure after some time (three to 10 years) and selling
ZAGREB, Sept 5 (Hina) - The Croatian Reconstruction and Development
Bank (HBOR) is launching a programme of granting loans to small and
medium businesses in a new way, with invested funds being replaced
by recapitalisation in exchange for a share in the capital stock.
The programme is aimed at increasing production and employment, the
chairman of the HBOR Supervisory Board, Finance Minister Mato
Crkvenac, said on Wednesday.
The HBOR will invest in those companies whose development projects
will secure profitable operation, intensive growth and a rise in
employment.
The bank will make 30 million kuna (USD 3.58 million) of such
investments by the end of this year. It is estimated that average
investments will range between 300,000 and two million kuna
(approx. USD 35,880 - 239,230). The state and the bank are
interested in leaving the ownership structure after some time
(three to 10 years) and selling their share on the market, said the
chairman of the HBOR Management Board, Anton Kovacev.
(hina) sb rml