LONDON/ZAGREB, March 28 (Hina) - A significant amount of attention and assistance of the international community has been directed toward Croatia since the election of the new authority and now it is up to Croatia to confirm hopes
that this is a new beginning, the first vice-president of the European Bank for Reconstruction and Development (EBRD), Charles Frank, told Hina. Frank, who is on his first visit to Croatia, arrived with a clear message that the EBRD is committed to its partnership with Croatia.
LONDON/ZAGREB, March 28 (Hina) - A significant amount of attention
and assistance of the international community has been directed
toward Croatia since the election of the new authority and now it is
up to Croatia to confirm hopes that this is a new beginning, the
first vice-president of the European Bank for Reconstruction and
Development (EBRD), Charles Frank, told Hina.
Frank, who is on his first visit to Croatia, arrived with a clear
message that the EBRD is committed to its partnership with Croatia.
#L#
The EBRD expects from Croatia's new authorities even stronger
partnership relations, Frank added.
The current cooperation between the EBRD and Croatia is on a good
level and the level of investments that can be achieved depends on
steps Croatia will take in order to improve the investment
atmosphere and achieve a transparent and well-defined
privatisation process. This includes, among other things, the
privatisation of all state-owned banks and the restructuring and
privatisation of the two state-owned companies - Croatian Oil
Industry (INA) and Croatian Power Industry (HEP) - as well as the
beginning of a transparent privatisation process in tourism and
other sectors, Frank said when asked about EBRD's strategy toward
Croatia in coming years.
The EBRD supports the arrival of strategic foreign partners in
currently state-owned banks and it will secure further sources of
financing of economy, especially of small- and medium-sized
enterprises. According to some estimates, the EBRD could grant
Croatia loans worth 200 million euros in 2000.
By 1999 inclusive, the EBRD and Croatia singed a total of 32
projects. More than 150 small- and medium-sized businesses have so
far been granted loans by the EBRD. The bank will continue providing
assistance to small- and medium-sized enterprises and crafts, as
well as to exports, Frank said. Also, the EBRD is investigating the
possibility of establishing several funds which would meet the
needs and provide capital for business people, which has not
existed in Croatia so far, he added.
(hina) mm rml