LAWS TO WATCH: Croatian Export Financing Ratification Act

Sinisa Hajdas Doncic - ministar pomorstva, prometa i infrastruktureLPJ Issue 148, 14 September 2015

The legislation confirms the Agreement on super-guarantees signed on 1 June 2015 to finance Croatian exports. The Croatian Bank for Reconstruction and Development (HBOR) signed the contract for a Citibank loan; the Republic of Croatia signed an agreement with the International Bank for Reconstruction and Development (IBRD) on super-guarantees on the loan.

The loan amounts to €50 million for a period of 7 years with a grace period of 3 years. Since this is an international agreement, it must be adopted through legislation that will be confirmed by the Sabor.

Proposed by: Ministry of Maritime Affairs, Transport and Infrastructure

Note: The legislation was sent to the Sabor urgent procedure

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