ZAGREB, 17 Oct (Hina) - A union consisting of 28 foreign banks has granted Croatia a DM 200-million loan. A contract on the loan was signed in Zagreb on Thursday by the Croatian Finance Minister Bozo Prka and Wolfgang A. Baertz, head
of the Dresdner Bank Luxembourg administration, which is heading the whole project.
ZAGREB, 17 Oct (Hina) - A union consisting of 28 foreign banks has
granted Croatia a DM 200-million loan. A contract on the loan was
signed in Zagreb on Thursday by the Croatian Finance Minister Bozo
Prka and Wolfgang A. Baertz, head of the Dresdner Bank Luxembourg
administration, which is heading the whole project. #L#
The signing of the contract was attended by representatives of
28 banks from 12 countries, which agreed to grant the loan.
The loan is intended for the financing of budget needs, with
the annual interest rate below 6%, and the time of repayment of two
years. The loan is to be paid by one installment after the expiry
of the two-year period.
Prka said that the loan would not be used for current state
expenditures, but for investment projects and capital expenditures.
It would not damage the country's economic stability, he added.
Croatia would continue its successful presence on the
international capital market, the head of the Dresdner Bank
Luxembourg administration Baertz said.
The interest of banks on international market had increased
and the loan had been increased from DM 150 to 200 million.
'So far, this has been the cheapest and largest loan granted
to Croatia', Baertz said.
(hina) rm mm
171550 MET oct 96