Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) partnered with HAMAG, the Croatian Agency for SMEs and Investment, to address the challenges faced by start-up small and medium-sized enterprises (SMEs) in Croatia. The primary issue was the limited access to financing for higher-risk start-ups, which hindered their ability to invest, expand, and create jobs.
To tackle this, the EIF and HAMAG signed a CIP counter-guarantee agreement that enabled HAMAG to significantly increase its guarantee volumes, committing a total of HRK 400,000,000 (approximately EUR 53.4 million) over three years. This initiative allowed HAMAG to enhance its maximum guarantee rate and focus on supporting riskier start-ups, thereby facilitating more favorable loan terms from Croatian banks.
As a result of this tailored solution, it is anticipated that around 650 Croatian start-up companies will benefit from the increased access to financing, enabling them to make investments, expand their operations, and ultimately create new jobs within the economy.