Croatia creates energy efficiency credit fund to ease access to EU finance

Croatia’s Ministry of Regional Development and EU Funds and the Croatian Bank for Reconstruction and Development (HBOR) have signed an agreement to set up the ESIF Credit for Energy Efficiency for Entrepreneurs. Thanks to 35 million euros from the European Regional Development Fund, the ESIF credit will provide loans at preferential conditions for micro, small, medium and large private enterprises in the service sector (tourism and trade) to support energy savings through increased energy efficiency.

HBOR will manage the ESIF Credit for Energy Efficiency for Entrepreneurs with intermediation of the commercial banks that will be selected through a public procurement procedure. The EU support, matched by private capital, would trigger loans worth up to 68 million euros, made available to businesses.

“The ESIF credit will offer a new and easier way to access EU funds, thanks primarily to their substantially fewer administrative requirements,” said Croatia’s Ministry of Regional Development and EU Funds Gabrijela Žalac.  

“In addition to the direct effects on the environment and the savings that will be achieved by our entrepreneurs and the public sector, implementation of the ESIF credit will also have other positive effects for the Croatian economy,” added Tamara Perko, president of HBOR.