Croatian state-owned development bank HBOR and the European Investment Fund have announced the launch of a new €52 million joint equity investment program. Both sides will commit €26 million to support fast-growing Croatian businesses.
- EIF and HBOR’s combined commitments of €52 million are also expected to catalyse additional private-sector investments into equity funds.
- The key program objective is to support the emergence of fund managers, who devote a significant part of their investments to Croatian SMEs, small mid-caps, and mid-caps.
- Both sides will jointly manage and deploy the program through fund investments in target companies.
- The program is not restricted to any particular sector, although the focus will be on sustainability, green transformation, and innovation. At least 25% of the total amount drawn down for investments shall be invested in climate action and environmental sustainability startups.
About HBOR and EIF
EIF (European Investment Fund) is part of the European Investment Bank Group. Its main goal is to support microenterprises and small businesses by helping them to access finance.
HBOR (Croatian Bank for Reconstruction and Development) is Croatia’s state-owned development bank. Its remit is to promote the development of the Croatian economy by extending loans, insuring export transactions against political and commercial risks, issuing guarantees, investing in equity through private equity funds, and providing business advice.
