News Feature
Cash injection to boost Croatia travel further
10 March 2008
Croatia is to get another cash injection to help continue its thriving economic progress.
According to The Financial, the European Bank for Reconstruction and Development (EBRD) wants to support the expansion of the country's small businesses with the €10 million (£7.6 million) loan.
The publication explained that the loan – for Raiffeisen Leasing Croatia - will be complemented by funds from the European Commission to help with technical assistance, worker training and financial incentives.
Raiffeisen Leasing, which has branches throughout nine Croatian cities, covers major sectors of the economy including the financing of equipment and boats - an increasingly important consideration in a country attracting a growing number of maritime enthusiasts.
Miljenko Tumpa, the chairman of the firm's management board in Croatia, told The Financial he was pleased to be recognised by the EBRD and EU.
"The cooperation we have had so far was more than successful and it helped us to increase the volume of financing, through which we were able to contribute to a more effective development of the Croatian economy", he remarked.
Earlier this month, financial giant the EBRD also announced plans to invest significant funds in the popular island destination of Losinj.
Croatian Villas offering villas, apartments and waterside properties in Central Dalmatia and the islands.
Category: Northern Dalmatia and the islands & Tourism News/trends
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