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The EIB is financing projects in Croatia worth more than one billion euros this year

by AI | 08.Nov 2024 | Europe in brief AI

The main credit institution of the European Union finances important infrastructure projects in Croatia with large amounts.

Zagreb, 11/08/2024 - Deputy Prime Minister and Minister of Finance Marko Primorac met with the President of the European Investment Bank Group (EIB Group) Nadia Calviño. In the photo Marko Primorac, Nadia Calviño. photo HINA/ Dario GRZELJ/ ml

ZAGREB – The European Investment Bank (EIB) will support projects in Croatia valued at over one billion euros in 2024, which is a record, it was highlighted on Friday after the meeting between Finance Minister Marko Primorac and EIB Group President Nadia Calviño.

Calviño arrived for her first official visit to Croatia, and held a meeting at the Ministry of Finance with Deputy Prime Minister and Finance Minister Marko Primorac, who emphasized the “very successful and productive” cooperation between Croatia and the EIB. Already in the current part of this year, support agreements for projects worth 630 million euros have been signed, and by the end of 2024, this should grow by another 400 million euros, making the total amount more than one billion euros, which is a record, Primorac pointed out.

“The ambition and goal of the Government in the third consecutive mandate is to focus on digitization, decarbonization, education, and demographics as key issues, and in these segments we see the European Investment Bank as a significant partner,” stated Primorac, noting that he had collaborated intensively with Calviño previously, when she was the finance minister and deputy prime minister of the Spanish government.

Primorac also highlighted some projects supported by the EIB and discussed with Calviño, such as the Korlat solar power plant being built by HEP, which is important in terms of green transition. The projects supported by the EIB extend into many other sectors, including the railway, which specifically refers to the mentioned 400 million euros EIB loan.

 In December last year, the EIB approved a framework loan of 900 million euros to Croatia, which is intended to finance and/or co-finance projects to improve railway infrastructure and passenger transport. The financing agreement was signed in January 2024 and relates to a loan of 400 million euros, while the remaining loan amount of 500 million euros will be the subject of subsequent agreements. (November 8, 2024)