"This project will help Croatia get ready for the challenges ahead to take full advantage of its EU membership criteria and to strengthen the capacity for absorbing European Union financial assistance in agriculture. This is first in a series of projects which will help Croatia get ready for EU accession, learning from the lessons from other countries," said Anand K. Seth, Country Director Director for Croatia, Bulgaria and Romania.
The loan has a maturity of 15 years, including a five-year grace period.
Since Croatia joined the World Bank in 1993, the Bank has been active in providing financial and technical assistance, policy advice and analytical services to the country. So far, the Bank has supported 30 projects totaling USD1.97 billion, and has provided over 41 grants totaling USD43.2 million. All completed projects to date have satisfactory ratings. Overall portfolio performance in recent years is also above the regional average, and disbursement rates are high.