International Development Banks Finance Croatia’s Development & Competitiveness
On 21 May, the government adopted 2014 annual reports on public projects that were co-financed by the European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), the International Bank for Reconstruction and Development (IBRD), and the Council of Europe Development Bank (CEB). The Ministry of Finance had conducted a survey of the public projects portfolio co-financed by the above banks, and prepared the corresponding reports.
In the period 1993-2014, the EBRD had invested approximately €3.5 billion in 170 projects; 71% are private sector projects. The bank’s activities included all areas of the economy, and are particularly strong in the areas of financial institutions (38% of the total financing), infrastructure (32%), energy (7%), and industry, entrepreneurship and agribusiness (23%).
In 2014, there were six public sector projects, valued at approximately €272 million, which were co-financed by EBRD loans totalling €214.7 million. All six projects fall under the auspices of the Ministry of Maritime Affairs, Transport and Infrastructure, covering the road construction, port infrastructure, railway infrastructure and air traffic sectors. In terms of loan size, the largest project is the motorway construction of the Vc Corridor. The state-owned Croatian Motorways (HAC) signed the corresponding €60.6 million loan deal with the EBRD in 2010…