EBRD CONTINUES FINANCING PROJECTS IN CROATIA

ZAGREB, Feb 9 (Hina) - The European Bank for Reconstruction and Development (EBRD) has concluded 26 treaties with Croatia on the participation in investments for five years. The EBRD ensured more than 515 million ECU for those investments, valued more than 1.3 billion ECU. Of those 26 investments, 19 were made in the private sector. Furthermore, 38 contracts, valued 5.4 million ECU, had been signed on the technical cooperation by the end of last year, said an EBRD economist from London, Christian Mumssen, and the head of the EBRD office in Zagreb, Andrew Krapotkin. At a press conference, the two presented a summary of the EBRD report on the countries in transition. They announced the continuation of the Bank's activities in Croatia regarding the financial backing of the private sector. Recalling that 54 percent of the money given to Croatia was directed to the private sector and 46 percent was allocated for the public sector, Krapotkin pointed to the EBRD's orientation toward financing the small and medium-sized enterprise. More than 300 projects have been granted through 10 banks, for this sector of the economy. Bearing in mind good macroeconomic conditions, the EBRD will finance this year the private sector, particularly tourism, and will also help strengthen the financial sector and support chief projects in power production and distribution, telecommunications, agriculture and transportation. Only one DM 50-million loan for 60 projects in tourism has been granted so far through the Croatian Bank for Reconstruction and Development. (hina) jn ms