BAKU, Azerbaijan, March 18. The European Investment Bank (EIB) Group significantly increased its financing in Croatia in 2024, reaching a record 1.24 billion euros, nearly three times more than the previous year, Trend reports.
This funding focused primarily on supporting green initiatives in transport, cities, and businesses. Of the total, 937 million euros came from the EIB, while the European Investment Fund (EIF) contributed 303.2 million euros, with a focus on small and medium-sized enterprises (SMEs) and Mid-Caps.
The financing amounted to 1.4% of Croatia's GDP, with about one-third directed towards supporting SMEs and Mid-Caps through Croatian banks. This support saw a 167% rise from 464 million euros in 2023.
Notable investments included a 400 million euro loan to the Croatian government for upgrading the country's rail infrastructure, part of a 900 million euro deal marking the EIB's largest financing operation in Croatia. Other key projects included 207 million euros for the city of Zagreb to promote renewable energy, affordable housing, and public transport, and 200 million euros for the Croatian Bank for Reconstruction and Development (HBOR) to support green financing for businesses.
EIB Vice-President Teresa Czerwińska emphasized the bank's commitment to Croatia's sustainable growth, modernizing infrastructure, and fostering innovation. The total financing over the last five years has reached nearly 3.1 billion euros, with the average annual support since 2000 being 613 million euros.
In 2024, the EIB Group allocated 721 million euros for projects focused on climate action and environmental sustainability. Key initiatives included improvements to rail travel to reduce emissions and support regional development, as well as advisory services for five major Croatian cities to expand social housing and promote inclusive urban development.
Business financing also saw significant support, with 200 million euros provided to HBOR to help Croatian companies reduce their carbon footprint. The EIF partnered with the EIB to offer 169 million euros to Privredna Banka Zagreb and 160 million euros to Erste Croatia to expand financing for businesses, and further supported Croatia’s innovation ecosystem through investments in equity funds.
In total, 2024 marked a record year for the EIF in Croatia, with investments supporting a wide range of strategies from early-stage venture capital to infrastructure projects.