" /> HBOR - Invest Croatia




Croatian Bank for Reconstruction and Development (HBOR) was established on 12th June 1992 by the Act on the Croatian Credit Bank for Reconstruction. Within the Croatian banking system, HBOR plays the role of a development and export bank established with the objective of financing the reconstruction and development of the Croatian economy. HBOR was founded and is entirely owned by the Republic of Croatia.



Private sector business entities – companies, crafts businesses, sole traders, family farms, cooperatives and institutions can receive loans for investments in fixed assets (tangible and intangible assets) for the purpose of business modernisation, introduction of new technologies, increase in capacities, investments in research and development and introduction of new products or services, promotion of environmental protection, energy efficiency and renewable energy resources projects, tourist capacities and facilities as well as promotion of new employment. Financing through the loan can be up to 75% of the estimated investment value, VAT not included. Interest rates vary from 1.30% p.a. fixed to 3% p.a. fixed with the repayment period of up to 17 years.


Private and public sector business entities can receive loans for both eligible expenses – project expenses to be financed from the grant proceeds and ineligible expenses – expenses that cannot be financed from the grant proceeds (fixed assets and working capital up to 30% of the contracted loan amount) of grants from European Structural and Investment Funds (ESI Funds) or EU Agricultural and Fisheries Funds. Loan amount varies from 75% to 100% of the estimated investment value. Interest rates vary from 1.70% p.a. fixed to 1.90% p.a. fixed with the repayment period of up to 17 years.


Small and medium-sized enterprises that have been operating in the territory of the Republic of Croatia for at least two years before the submission of loan application meet all eligibility criteria and plan to invest in eligible sectors can receive loans for new investment in fixed assets, long-term tangible and intangible assets and working capital. A loan is funded from the proceeds provided by ESIF and commercial banks in proportion 50:50 and can amount to € 3 M or in case of tourism industry € 10 M. Interest rate is 0% on the part of loan principal from ESIF funds, while on the part of loan principal from commercial bank’s funds it is calculated in accordance with the commercial bank’s business decision. Loans are approved with a repayment period of up to 17 years and no customary banking fees charged.



The Croatian Growth Investment Programme (CROGIP) is a € 70 million equity investment programme launched in January 2019. The funds are to be invested alongside private investors and will support Croatian SMEs, small midcaps and midcaps’ access to growth and expansion equity capital. EIF and HBOR contribute € 35 million each to this jointly developed programme, which is expected to catalyse additional private-sector investments into funds and companies.


Frc2 Croatia Partners SCSp is a venture capital fund financed partly from ESIF Financial Instruments through cooperation with the European Investment Fund. The Fund is managed by FRC2 GP S.à r.l. The Fund consists of two components:

  • an accelerator programme dedicated to innovative start-ups that have only a business idea (Start-up school) or prototype (Accelerator), and
  • equity investments (VCs) intended for start-up and first-time-to-early-stage enterprises.