ZAGREB, June 14 (Hina) - Croatian and German banks for development and reconstruction on Wednesday signed an annex to a contract on increasing a credit line, under which the Croatian bank (HBOR) will get another 25 million euro to
finance tourism in the country. Kreditanstalt fuer Wiederaufbau (KfW) granted the means to the HBOR at the time term of ten and a half years with the three-year-grace period. The interest rate is the equal to the rate of Euro Interbank Offered Rate ("EURIBOR") which is currently 4.73063 percent with the interest rate margin of 1.25 percent annually. The HBOR will forward loans via commercial banks to ultimate users or directly to those tourist companies with the Croatian Government's collateral. Of the total 125 million German marks in the entire credit line, 100 million will be earmarked to tourism and 50 million will be given to small businesses. HBOR Management Bo
ZAGREB, June 14 (Hina) - Croatian and German banks for development
and reconstruction on Wednesday signed an annex to a contract on
increasing a credit line, under which the Croatian bank (HBOR) will
get another 25 million euro to finance tourism in the country.
Kreditanstalt fuer Wiederaufbau (KfW) granted the means to the HBOR
at the time term of ten and a half years with the three-year-grace
period.
The interest rate is the equal to the rate of Euro Interbank Offered
Rate ("EURIBOR") which is currently 4.73063 percent with the
interest rate margin of 1.25 percent annually.
The HBOR will forward loans via commercial banks to ultimate users
or directly to those tourist companies with the Croatian
Government's collateral.
Of the total 125 million German marks in the entire credit line, 100
million will be earmarked to tourism and 50 million will be given to
small businesses.
HBOR Management Board Chairman Anton Kovacev said this bank had
rescheduled debts of tourist companies by this September. He added
that these loans would also be rescheduled after this time term
through new credit arrangements.
(hina) jn ms