May the 29th, 2022 - There will be more Lika-Senj County capital investments on the cards, according to the director of the the European Bank for Reconstruction and Development's Financial Association for the Republic of Croatia (EBRD), who recently paid a visit to Gospic.

As Novi list/Marin Smolcic writes, the director of the EBRD's Financial Association for Croatia, Victoria Zinchuk, spent the day in Lika-Senj County recently and visited Gospic. The visit and meetings were very fruitful, with more Lika-Senj County capital investments on the horizon.

A working meeting of Lika-Senj County prefect, Ernest Petry, with Director Zinchuk was held in Lika-Senj County, where they discussed Lika-Senj County capital investments as we move forward, and the possibility of monitoring them with the use of the European Bank for Reconstruction and Development.

The continuation and expansion of cooperation between the two entities in the coming period was quickly agreed upon. After the meeting, the Director of the EBRD for Croatia, Victoria Zinchuk, who is otherwise a Ukrainian citizen by nationality, accompanied by the host, visited the Reception Centre for the Care of Ukrainian Citizens in Gospic.

She expressed her gratitude to this part of the Republic of Croatia for the rapid way in which it has extended endless amounts of help to Ukraine and fleeing Ukrainian refugees. Through special efforts and a lot of initiative, this Croatian county has created some of the most optimal conditions for the accommodation of refugees from Ukraine staying in Croatia following Russian invasion of their country.

For more on investments across Croatia, both foreign and domestic, make sure to check out our dedicated business section.

January the 30th, 2022 - An enormous EBRD Croatian investment took place last year, with the investment of a massive 176 million euros in various private sector projects which were primarily focused on supporting domestic companies affected by the global coronavirus pandemic.

As Poslovni Dnevnik writes, according to the final results, the European Bank for Reconstruction and Development (EBRD) recorded its largest investment in Croatia in three years in 2021.

The total amount of EBRD Croatian investments to date stands at a huge 4.1 billion euros, and the current value of the portfolio is 850 million. During 2021, 200 million euros were withdrawn, which shows that EBRD funds are being used to provide active support to the Croatian economy.

"The EBRD is very active in Croatia, but the EBRD isn't only there to finance projects. Our team based in the City of Zagreb raised more than 100,000 euros for earthquake victims in Sisak-Moslavina County thanks to the initiative of its employees and the EBRD's Community Initiative programme,'' said Victoria Zinchuk, the EBRD Director for Croatia.

The funds raised will support the equipping of the Vrbina Sisak Children's Home, the construction of a new "Miracle Room" for children with special needs in the region, and the construction and renovation of several private homes for vulnerable families.

Renewable energy sources

The EBRD's focus throughout the year 2022 will be on developing and stimulating the renewable energy market. This approach is in line with the priorities of the Government of the Republic of Croatia, which recently introduced a new programme of support for investments in renewable energy sources, which is expected to attract new investments in the sector and contribute to achieving renewable energy goals, including objectives set out in the National Recovery and Resilience Plan.

It is crucial for Croatia to take the steps necessary to improve its overall electricity network in order to enable the best possible connection of renewable energy sources to the national network. In partnership with the Croatian Economic Renewable Energy Association (OIEH), the EBRD has developed an action plan identifying priority investments and activities to enable the smooth integration of renewable energy sources into the country's existing energy network.

The EBRD and OIEH have also developed a comprehensive guide for investors in the sector, which is available on the OIEH website. The study was financed by the Bank in the amount of 150,000 euros. The EBRD has also identified three renewable energy projects that it plans to finance soon, making it a leading investor in this particular sector.

Entrepreneurs and companies are also getting a look in

The EBRD's SME Business Advisory Programme has also had a very dynamic year.

With the support of the European Investment Advisory Hub and the EBRD's Small Business Impact Fund, more than 32 advisory projects were launched during the year. In addition to that, several training sessions were organised for female entrepreneurs, women on supervisory boards, small and medium enterprises in the tourism and hospitality sector which were negatively affected by the crisis caused by the ongoing coronavirus pandemic, as well as a webinar for start-ups on "Sources of funding".

The European Commission (EC) has selected the EBRD as its partner who will work closely with the Ministry of Physical Planning, Construction and State Property to work closely on legal and regulatory reforms.

Back in 2021, the EBRD invested a total of 10.4 billion euros, the second best result in a row, and this bank's support remains an important factor in the recovery of new markets from North Africa to Central Asia.

For more on this EBRD Croatian investment and much more, check our our dedicated politics section.