ZAGREB, March 27 (Hina) - The European Bank for Reconstruction and Development (EBRD) is planning to invest approximately 200 million euro of loans in Croatia's economic projects, said EBRD First Vice-President Charles Frank on Monday
during his first visit to Zagreb.
ZAGREB, March 27 (Hina) - The European Bank for Reconstruction and
Development (EBRD) is planning to invest approximately 200 million
euro of loans in Croatia's economic projects, said EBRD First Vice-
President Charles Frank on Monday during his first visit to
Zagreb.#L#
During his stay in Croatia, Frank will discuss planned loans with
Croatian government officials, businessmen and bankers.
The EBRD's activities in Croatia have been developed well so far,
Frank said adding that his bank has to date approved 559.5 million
euro for 32 projects in the country, worth over 1.7 billion euro.
Last year, the EBRD ensured 46.43 million euro of loans for eight
projects the value of which passed 258 million euro, and those
projects also included other investors and funds.
This year, the EBRD will orientate its activities to helping
infrastructure, giving support to the growth of small and medium-
sized businesses and improving the overall investment climate.
According to Frank, economies of countries in transition have been
increasingly interesting to foreign investors, and some of them
would certainly focus their attention on Croatia, he predicted.
This year, the EBRD will invest in Croatia's power industry, he said
pointing to projects of the Power Industry HEP and the Oil Industry
INA.
This Bank has noticed great possibilities in the banking sector and
tourism. It will centre on small banks and several tourist
companies, the owner of which is the Zagrebacka Bank.
Frank added that the Bank would remain interested in projects in the
transportation and service sector. In this context he mentioned a
project of the Zagreb-Rijeka motorway.
The Bank has been satisfied with investments in Croatia so far,
Frank said pointing to the investment in the industrial sector (the
pharmaceutical company Pliva and the food factory Podravka) and in
the telecommunications (VipNet).
Besides, the EBRD is intending to broaden the good cooperation with
the Croatian Government, Frank said.
(hina) ms