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    Archived pages: 1113 . Archive date: 2014-09.

  • Title: www.hbor.hr
    Descriptive info: Search.. Home.. About HBOR.. Contact.. Lending.. Export Promotion.. Tourism.. Agriculture.. Economy.. SMEs.. Environmental Protection.. Infrastructure.. Innovations.. Financial Restructuring.. Working Capital.. EU Funds.. Contribution.. Export Credit Insurance.. Programmes.. International Regulations.. Classification of Countries.. Short-term credit insurance.. Croatian Credit Insurance J.. S.. C.. Trade Finance.. Guarantees.. Documentary Letters of Credit.. Economic Co-operation Funds (ECFs).. Contacts.. English.. Memorandum of Understanding between HBOR and Export Development Bank of Egypt.. additional confirmation of HBOR’s significance in international markets.. ZAGREB, 2 December 2010 – Mr Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak, and Mr.. Hisham Hassan, Chairman of the Export Development Bank of Egypt, signed yesterday a Memorandum of Understanding.. The signing ceremony was organised within the framework of the visit of the Government of the Republic of Croatia to the Arab Republic of Egypt and the participation of Croatian businessmen,  ...   primarily in the field of investment promotion and export of goods and services to third countries.. The signing of the Memorandum represents a continuation of HBOR’s strategy aimed at creating preconditions for an increase in Croatia’s exports and strengthening economic co-operation between Croatia and Egypt having in mind the Memorandum of Understanding signed between HBOR and the Export Credit Guarantee Company of Egypt (ECGE) in 2002.. In 2009, the volume of trade between Egypt and Croatia amounted to USD 110 million.. Croatian exports reached USD 97 million, whereas imports stood at USD 12.. 6 million.. Print.. Temporary Reduction in Interest Rates Charged by HBOR on New Investment Projects in the Period from 1 July 2014 to 31 December 2014.. Contact Us.. FAQ.. Glossary.. HBOR News.. Document library.. Financial statements.. Human Resources.. Back to top.. Croatian Bank for Reconstruction and Development.. All Rights Reserved..

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  • Title: www.hbor.hr
    Descriptive info: HBOR Received Innovator Award Winners from Croatia and Stressed the Importance of Providing Continued Support.. ZAGREB, 27 October 2010.. – Today, at Hrvatska banka za obnovu i razvitak, Anton Kovačev, President of HBOR’s Managing Board, and Ivanka Maričković Putrić, Credit Division Executive Director, received the Croatian innovators who won innovator awards: Prof DSc Vilko Žiljak, Jana Žiljak-Vujić, Klaudio Pap, Marko Kravar, Melita Pavlek-Moćan, Stjepan Čajić, Stanko Bezek and the representatives of the Croatian media.. Today’s gathering was organised to mark the exceptional success of innovators at the 10th British Innovation Show, in which Croatian exhibitors participated with 12 innovations and won 17 medals.. At the gathering, HBOR presented the ways in which it provides support to the Croatian innovators.. There is a risk involved in the financing of innovations and start-ups (in addition to high investment costs and low return levels in early phases) as the value of a new product is confirmed in the market.. Numerous new products or newly established companies do not manage to survive.. Due to the fact that commercial banks, being primarily focused on profit generation, are reluctant to take such risks, HBOR implements its loan programmes for the financing of start-ups and innovators directly, thus aiming to  ...   and devices, building annexes and equipping business facilities, purchase and construction of business premises only for experienced and successful entrepreneurs).. Through this programme, the financing is carried out by granting loans directly to small and medium-sized companies and crafts businesses or by investing in equity.. The Programme is implemented in co-operation with BICRO through the RAZUM project, whereas HAMAG has introduced a new guarantee programme called Innovations, the purpose of which is to support innovation financing by insuring 70 percent of loan principal amounts.. For the financing of their innovations and new technologies, Croatian innovators can, in addition to the Programme for Financing Innovations, use other HBOR’s loan programmes.. So far, for the financing of new products and technologies, HBOR has approved more than HRK 700 million mostly for the products that were successfully introduced in international markets.. On this occasion, Anton Kovačev, President of HBOR’s Managing Board, stressed: “A breakthrough in the development of new products is indispensable not only for Croatia but also for the developed countries for the purpose of generating adequate economic growth rates.. Today, we are witnesses of rapid changes driven by high technologies that alter our everyday lives.. Therefore, innovative spirit is more significant than ever before.. ”..

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  • Title: www.hbor.hr
    Descriptive info: HBOR Launched the Loan Programme for the Development of Small and Medium-Sized Enterprises with EU Support.. HBOR continues to provide support for SMEs.. ZAGREB, 5 October 2010.. – in September, Hrvatska banka za obnovu i razvitak entered into on-lending agreements with seven commercial banks that would be participating in the implementation of the Loan Programme for the Development of Small and Medium-Sized Enterprises with EU Support as follows: Banco Popolare Croatia d.. , Centar banka d.. , Hrvatska poštanska banka d.. , Hypo Alpe-Adria-Bank d.. , Istarska kreditna banka Umag d.. , OTP banka Hrvatska d.. and Partner banka d.. The above on-lending agreements were concluded on the basis of the Loan Agreement of EUR 20 million signed between HBOR and Kreditanstalt für Wiederaufbau (KfW), the German development bank.. This is already the second credit line that is implemented by HBOR in co-operation with KfW, the European Commission and the Council of Europe Development Bank with an objective of providing funding for micro, small and medium-sized enterprises for the purpose of self-employment, establishing crafts businesses or companies, modernising or expanding existing operations as well as increasing the number of new jobs.. The Programme is intended for  ...   included).. Investment loans are the second type of loans and can amount to EUR 250,000 in HRK equivalent value that can be used for investing in fixed assets.. In this case, working capital can be financed in the amount of up to 30% of the amount invested in fixed assets financed out of the loan proceeds.. The grace period is up to 2 years and the repayment period up to 10 years (grace period included).. The interest rate charged to a final borrower will be established by a commercial bank depending on the assessment of client creditworthiness and the quality of collateral offered.. “Owing to the considerable interest of crafts businesses and small enterprises in micro loans as well as the success achieved by our former micro loan programme through which 326 projects were financed in the amount of approximately HRK 112 million, the new loan programme has been prepared.. The long-lasting efforts of HBOR made it possible for numerous Croatian entrepreneurs to start new high-quality projects and develop their operations.. I am convinced that these new loans will create preconditions for further development and progress of our entrepreneurs,” said Anton Kovačev, President of HBOR’s Managing Board..

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  • Title: www.hbor.hr
    Descriptive info: 9th International Conference on Export Promotion.. More than 240 exporters at HBOR’s conference this year.. th.. September 2010.. – The 9th International Conference on Export Promotion organised by Hrvatska banka za obnovu i razvitak under the auspices of Ms.. Jadranka Kosor, the Croatian Prime Minister, took place at Hotel Westin, Zagreb today.. More than 240 exporters and participants involved in the process of manufacturing export products gathered at this year’s conference.. The conference was opened by welcome addresses of Ms.. Jadranka Kosor, the Croatian Prime Minister and Mr.. Anton Kovačev, President of HBOR’s Managing Board.. The conference was divided in two panels.. The participants in the first panel called „Challenges Facing the Export Industry in the New Decade“ were Joaquín de la Herrán, Managing Director of CESCE, Andreas Klasen, Managing Director of Consortium Euler Hermes PricewaterhouseCoopers, Dr.. Matthias Kollatz-Ahnen, Vice-President of the European Investment Bank, Andrew Skelton, Chief Executive Officer of Ericsson Nikola Tesla, Mr.. sc.. Borislav Škegro, Director of Quaestus, Dr.. Marko Škreb, Chief Economist of Privredna banka Zagreb and Vesna Trnokop-Tanta, Vice President of the Croatian Chamber of Economy, Economic and EU Affairs.. The participants in the second panel called „Exporters about Exports“ were Vesna Boinović-Grubić, Member of the Management Board of KONČAR-Električna vozila d.. , prof.. dr.. Zoran Jašić, Ambassador, Ministry of Foreign Affairs and European Integration, Damir Kuštrak, Croatian Employers’ Association, Tomislav Lučić, Executive Vice-President, Finance and Control, Agrokor d.. , Mr.. Đuro Popijač, Minister of the Economy, Labour and Entrepreneurship, and Zvonimir Viduka, Director of Altpro d.. Since 1997, Hrvatska banka za obnovu i razvitak has developed support for Croatian exporters within 5 loan programmes intended for exporters only (Pre-Export Finance, Buyer Credit, Supplier Credit, Loans to Foreign Banks and Exports - IBRD).. For the needs of exporters, HBOR also provides export guarantees (tender guarantees, performance guarantees, advance payment guarantees and warranty guarantees).. For the needs of export credit insurance, HBOR provides short-term insurance, insurance of supplier credit, pre-export financing insurance and investment insurance.. Beside the mentioned programmes, exporters can also make use of  ...   credit insurance exceeded HRK 1.. 7 billion, an increase of 9% in comparison with the same period last year.. In 2009, the total volume of export credit insurance equalled HRK 2.. 5 billion.. In the first eight months of 2010, 4 indemnities were paid totalling HRK 511,000 (Czech Republic, Bosnia and Herzegovina, France and Poland).. In 2009, 10 indemnities were paid totalling HRK 2.. 7 million.. This week, HBOR hosted the autumn meeting of the Prague Club.. The representatives of export agencies from 25 countries participated in the work of the meeting.. The Prague Club meetings are designed to exchange practical knowledge and experience in the field of export credit insurance for the benefit all Club members.. The Prague Club was founded in 1993 on the Berne Union and EBRD initiative.. The members of the Club are agencies that are involved in insuring or guaranteeing export credit transactions, but do not yet meet the entrance requirements for the Berne Union.. HBOR has been the Club member since 1999.. The Berne Union is an international organisation founded in 1934 for the purpose of facilitating cross-border trade.. It has 50 members from 41 countries.. Mr.. Anton Kovačev, President of HBOR’s Managing Board pointed out: „As the development and export bank and export credit agency of the Republic of Croatia, HBOR has, from its very beginning, been supporting Croatian entrepreneurs in their efforts to strengthen their position in international markets.. Exports transactions require significant knowledge in various fields, particularly in the field of finance.. Therefore, HBOR’s experts continually pursue the latest world trends in order to provide complete service and best customised solutions to Croatian exporters.. The newest example of continuous enhancement of our offer is the establishment of Hrvatsko kreditno osiguranje for the purpose of quality export credit insurance against political and commercial risks.. Many Croatian exporters appreciated and took advantage of all benefits offered by HBOR in their business operations, and on this occasion we invite other exporters also to visit us and use our services designed for them.. “..

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  • Title: www.hbor.hr
    Descriptive info: HBOR increased its lending activities by 48%.. Zagreb, 13 July 2010 - Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak (HBOR), at today’s press conference, presented HBOR’s operating results for the first six months of 2010, during the period of which its lending activities rose by 48% compared with the same period 2009.. Even in such difficult times characterised by a complex situation in the international financial market and high prices of capital, HBOR manages to provide funding for Croatian businessmen on favourable terms and conditions.. Owing to its proactive approach, HBOR has taken a key role in the process of rehabilitating the Croatian economy.. During the 18 years of its existence, HBOR has, using its experience and know-how, become one of the key driving forces behind the process of strengthening entrepreneurship and developing evenly all areas of Croatia.. As a development and export bank and an export credit insurance agency of the Republic of Croatia, HBOR provides support for Croatian entrepreneurs that strive to improve their positions both in the domestic and international markets.. Entrepreneurs and commercial banks are focused on the solving of liquidity issues and the refinancing of existing loans, which is confirmed by considerable interest shown for the first auctions for  ...   Croatian entrepreneurs become visible.. HBOR is satisfied with the levels of interest rates offered by commercial banks at the auctions that range from 4.. 7 to 5.. 05 percent.. Interest rates are a criterion for the assignment of loan quotas to commercial banks at auctions organised by HBOR, and the criteria for the approval of loans to final borrowers are defined in the loan programme, on the basis of which commercial banks and HBOR assess projects.. During the preparation of the Model and during its implementation, all participants (Ministry of Finance, Croatian National Bank, commercial banks and HBOR) demonstrated their utmost readiness to carry out the assignment as fast as possible for the benefit of Croatian businessmen.. HBOR has met all deadlines set at auctions carried out so far.. In 2009, the total volume of loans reached HRK 6.. 2 billions whereas the total volume of loans in the period 1 January 2010 – 30 June 2010 amounted to HRK 4.. 6 billions an increase of 48% compared with the same period last year.. In the first half year, HBOR not only increased the amount of loan commitments but also significantly raised the number of loans committed: 946 loans were committed, an increase of 46% compared with the same period last year..

    Original link path: /Art1459
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  • Title: www.hbor.hr
    Descriptive info: EUR 50 Million Loan Agreements Signed by HBOR and KfW.. HBOR Raised Additional EUR 50 Million for the Development of Tourism and Small and Medium-Sized Enterprises.. Zagreb, 15 June 2010.. – In the presence of Ms Jadranka Kosor, Prime Minister of the Republic of Croatia, and Dr Bernd Fischer, Ambassador of the Federal Republic of Germany to Croatia, Mr Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak (HBOR), and Mr Joachim Rastert, Senior Vice President of German development bank Kreditanstalt für Wiederaufbau (KfW), signed two loan agreements in the total amount of EUR 50 million on the first day of the German-Croatian Economic Forum.. The loan proceeds are earmarked for the financing of projects in tourism and new investments carried out by small and medium-sized enterprises in the Republic of Croatia in order to strengthen their competitiveness, encourage the creation of new jobs and support the maintenance of existing ones.. The amount of EUR 20 million is intended for the financing of projects implemented by micro, small and medium-sized enterprises.. This is the second credit line that is supported by the  ...   of our first international partners.. Our eighteen-year long co-operation has made it possible for many Croatian entrepreneurs to initiate new quality projects and develop their businesses.. I am convinced that this remarkable partnership will continue for years to come to our mutual satisfaction,” said Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak (HBOR).. “By these global loans extended to the Croatian Bank for Reconstruction and Development, KfW contributes to the strengthening of the SME sector in Croatia.. This will prove beneficial to both German and Croatian enterprises,” said Dr Axel Nawrath, Member of the Managing Board of KfW Bankengruppe.. The signing of these two loan agreements contribute to the long-lasting successful co-operation between KfW and HBOR, during which twelve loan agreement have been signed totalling almost EUR 300 million.. The loan funds have been utilised for various purposes ranging from the support for small and medium-sized private enterprises, micro enterprises and agriculture, the development of municipal infrastructure, the technological reconstruction of shipyards to the implementation of projects in tourism as well as in the field of energy efficiency and renewable energy resources..

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  • Title: www.hbor.hr
    Descriptive info: HBOR and Bulgarian Development Bank signed a Memorandum of Understanding.. Zagreb, 5th May 2010 – At the meeting of NEFI members in Vienna last week, Mr.. Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak (HBOR) and Mr.. Dimitar Dimitrov, Chair of the Managing Board and Executive Director of the Bulgarian Development Bank (BDB) signed a Memorandum of Understanding.. This Memorandum determines main areas of co-operation and exchange of information on the projects that will contribute to the strengthening of economic co-operation between the Republic of  ...   projects.. The Memorandum also stipulates a possible co-operation in the field of exchange of know-how and experience by organising mutual visits, seminars, workshops etc.. By signing this Memorandum, HBOR continues to widen its successful international co-operation for the purpose of providing assistance to Croatian entrepreneurs when penetrating foreign markets.. The Bulgarian Development Bank – BDB is a development bank with the mission of providing support to the Bulgarian economy through export promotion and support in the implementation of the Government’s economic policy in the field of micro-, small and medium-sized companies..

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  • Title: www.hbor.hr
    Descriptive info: HBOR Continues to Successfully Raise Funds for the Promotion of the Croatian Economy.. Zagreb, 15 April 2010.. – Mr Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak, and Mr Matthias Kollatz-Ahnen, Vice-President of the European Investment Bank, signed two loan contracts for the financing of the Croatian economy at the Zagreb Sheraton Hotel today: the Finance Contract for small and medium-sized enterprises, infrastructure projects in the public sector and Mid-cap in the amount of EUR 250 million and the Finance Contract for the restart and extension of a VCM plant and the procurement and construction of a new PVC plant for the investor Dina Petrokemija d.. , Omišalj in the amount of EUR 34 million.. By signing these contracts, HBOR continues, as it has announced, to raise favourable funding from special financial institutions for the Croatian economy.. By increasing the availability  ...   Loan I.. In 2007, the first part of the Global Loan II for the financing of SMEs, infrastructure, tourism and industry was signed in the amount of EUR 40 million, the proceeds of which were used for the financing of 37 projects.. In 2008, the second part of Global Loan II was concluded in the amount of EUR 60 million that was used for the financing of 106 projects.. In March 2009, EIB and HBOR signed a Loan for SME, infrastructure and Mid-cap in the amount of EUR 250 million.. “New investment cycles to be financed from the proceeds of the loan contracts we signed today will for sure contribute to the faster recovery of the Croatian economy, and I am extremely pleased that the ten-year successful co-operation between HBOR and EIB is continuing.. ” stressed Anton Kovačev, President of HBOR’s Managing Board at the signing ceremony..

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  • Title: www.hbor.hr
    Descriptive info: A Memorandum of Understanding Signed by HBOR and KredEx.. Zagreb, 25 March 2010 – Anton Kovačev, President of the Managing Board of Hrvatska banka za obnovu i razvitak (HBOR), and Andrus Treier, Chief Executive Officer of the Credit and Export Guarantee Fund (KredEx), signed a Memorandum of Understanding at HBOR today.. HBOR and KredEx are obliged by the Memorandum of Understanding to exchange information on the legal framework pertaining to the economy of the Republic of Croatia and the economy of the Republic of Estonia, exchange information on companies and banks, support each other with regard to legal issues (suggesting lawyers, etc.. ), exchange experiences in the field of indemnities paid or receivables collected.. The Memorandum envisages co-operation by exchanging knowledge and  ...   organisation connecting export credit agencies, and it is developed through meetings and exchange of experiences under the umbrella of the Prague Club.. The Credit and Export Guarantee Fund (KredEx), the export credit agency of Estonia, was established in 2001 by the Ministry of Economic Affairs and Communications with the aim to improve the financing of enterprises in Estonia, decrease export-related credit risks, enable people to build or renovate their homes and promote energy efficiency in Estonia.. Great significance is attributed by HBOR to the development and strengthening of co-operation with export banks and export credit agencies, as evidenced by 44 Memorandums of Understanding signed so far for the purpose of supporting Croatian exporters in their efforts to enter into the demanding foreign markets..

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  • Title: www.hbor.hr
    Descriptive info: Conference on Micro-lending held.. HBOR has supported more than 13,300 projects of small and medium-sized companies with almost HRK 22 billion so far.. ZAGREB, 4th March 2010 – More than three hundred participants gathered on the Conference on Micro-lending organised by Hrvatska banka za obnovu i razvitak (HBOR) under the auspices of the German development bank (KfW).. The main topic of the Conference was promoting the importance of support to small companies and craftsmen through micro-lending projects.. The Conference was attended by the representatives of commercial banks, development agencies, ministries and other state institutions engaged in the problems of small and medium entrepreneurship.. The conference participants were addressed by Ms Jadranka Kosor, the Prime Minister and Mr Helmut v.. Glasenapp, the Head of KfW’s representative office in Brussels.. The framework of the conference work was the world and European experience in micro-lending, whereas some of the topics were: promotion systems, sources of finance, the role of commercial banks, funds and agencies in the Republic of Croatia, as well as obstacles that small and medium-sized companies are confronted with and their experience in micro-lending.. The majority of participants agreed that much progress was made in the development of entrepreneurship, but there are still  ...   Managing Board of HBOR emphasised on this occasion: „In the last 17 years, HBOR has supported more than 41 thousand projects with almost HRK 80 billion and covered various parts of the economy from infrastructure, environmental protection, tourism, exports, agriculture, business start-ups and innovators.. HBOR as the state development bank has been very active and is still very active in the field of small and medium entrepreneurship by taking over the risks that are evaded by commercial banks, thus providing support primarily to the projects of business start-ups, young people and women.. Until the end of 2009, HBOR has supported more than 13,300 projects of small and medium enterprises with the total amount of almost HRK 22 billion.. Since small entrepreneurs that employ up to 10 employees make almost 80 percent of the Croatian economy, we will further give special importance to the development of this part of entrepreneurship by supporting its growth of production and development of business operation.. In 2010, HBOR will provide loans to small companies and crafts businesses in the range from HRK 50,000 to HRK 250,000, and we are currently negotiating a line for micro-loans with KfW intended for micro-lending in the amount of EUR 20 million.. “..

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  • Title: www.hbor.hr
    Descriptive info: The First Auction for the Working Capital Finance Loan Programme Successfully Concluded.. Confirmation of HBOR’s Excellence in Promoting the Economic Development of the Republic of Croatia.. ZAGREB, 23 February 2010.. – Croatian Prime Minister Jadranka Kosor presented the results of the first auction for the Loan Programme for the Financing of Working Capital in the presence of Deputy Prime Minister and Minister of Finance Ivan Šuker and President of HBOR’s Managing Board Anton Kovačev at Hrvatska banka za obnovu i razvitak today.. At the auction, HBOR offered the amount of HRK 200 million.. Altogether 16 bids were received in the amount of HRK 357 million.. As interest considerably exceeded the loan amount offered by HBOR, 6 bids of commercial banks were accepted as follows: a bid submitted by Hrvatska poštanska banka d.. for a quota amount of HRK 40 million, based on which an average interest rate for borrowers will be 5.. 05 percent; a bid submitted by Hypo Alpe-Adria-Bank d.. for a quota of HRK 20 million, based on which an average interest rate for borrowers will be 5.. 05 percent; a bid submitted by Privredna banka Zagreb d.. for a quota of HRK 76 million, based on which an average interest rate for borrowers will be 5.. 11  ...   based on which an average interest rate for borrowers will be 5.. 11 percent.. Prime Minister Jadranka Kosor emphasised: “I am very pleased that the auction organised by HBOR has been implemented successfully, and that the loans to business entities with these interest rates will be helpful in solving illiquidity problems, and thus maintaining of production and jobs.. ”.. “The large number of received bids from commercial banks indicates that there is a great interest for this type of assistance to the Croatian economy and that this project will surely contribute to breaking the fall of economic activity.. I am also very glad that by taking over a part of the risk, the Croatian Government and HBOR, respectively, enabled the final borrowers to receive loan funds on favourable terms.. As in the past 17 years of its existence, by expert and dedicated work of its employees, HBOR has been and is at the service of the Croatian economy,” – said Anton Kovačev.. After each auction held, HBOR will, on its web pages.. www.. hbor.. hr.. , disclose the list of banks that will have been selected as the best bidders, so that business entities could have the latest information and be able to utilise funds under the loan programme Working Capital..

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    Archived pages: 1113