ZAGREB, Nov 13 (Hina) - The Croatian Bank for Reconstruction and Development (HBOR) and Privredna banka Zagreb (PBZ) on Monday signed an agreement on insuring one export loan from political and commercial risk in the Russian
Federation. The agreement covers the export of a US$4.1 million Croatian platform for the extraction and research of gas to Russia's Gazflot Ltd, the daughter company of Russia's biggest natural gas manufacturer Gazprom. PBZ granted the buyer's bank, Moscow-based Alfa Bank, a US$3.5 million long-term loan, while HBOR insured the deal from political and commercial risk, in the name and on the account of the state, said PBZ manager Bozo Prka. This is the first time a commercial bank joins HBOR in granting loans for Croatian export deals, as well as the first time HBOR ensures a long-term loan, said HBOR manager Anton Kovacev. He said that by signing the agreement, HB
ZAGREB, Nov 13 (Hina) - The Croatian Bank for Reconstruction and
Development (HBOR) and Privredna banka Zagreb (PBZ) on Monday
signed an agreement on insuring one export loan from political and
commercial risk in the Russian Federation.
The agreement covers the export of a US$4.1 million Croatian
platform for the extraction and research of gas to Russia's Gazflot
Ltd, the daughter company of Russia's biggest natural gas
manufacturer Gazprom.
PBZ granted the buyer's bank, Moscow-based Alfa Bank, a US$3.5
million long-term loan, while HBOR insured the deal from political
and commercial risk, in the name and on the account of the state,
said PBZ manager Bozo Prka.
This is the first time a commercial bank joins HBOR in granting
loans for Croatian export deals, as well as the first time HBOR
ensures a long-term loan, said HBOR manager Anton Kovacev.
He said that by signing the agreement, HBOR and PBZ took an active
part in an export support programme intended to encourage and
improve Croatian export. Other commercial Croatian banks should
soon join too.
(hina) ha jn