1. EBRD investing in Croatia
Vedrana Jelušić Kašić, EBRD Director for Croatia
UK-CROATIA TRADE AND INVESTMENT FORUM
London, 24 October 2013
© European Bank for Reconstruction and Development 2013 |

2. EBRD Business Volume in Croatia
EBRD in Croatia at a glance
Cumulative business volume over €2.76 bn in 149 operations since 1994.
Currently there are 80 active projects with a portfolio value over €1.23 bn.
Private sector investments make 69% of portfolio.
Equity investments represent a 29% of total portfolio, above EBRD’s average of 22%.
EBRD Business Volume in Croatia 4

3. EBRD in Croatia at a glance
Portfolio distribution by currency
Portfolio distribution by sector
Diversified exposure across sectors, with higher relative participation in Infrastructure and Financial Institutions. 4

4. EBRD’s Country Strategy 2013-2016
New Country Strategy for Croatia was approved in June 2013 with the focus on:
Mitigating the impact of the crisis by supporting corporates
Financing SME’s directly or through financial intermediaries
Financing long-term investments, working capital and restructurings
Restructuring and privatisation of state-owned companies
Focus on large utilities and infrastructure companies
Accelerate sound public sector reform through policy dialogue
Leveraging the benefits of EU accession to advance transition
Contributing to the effective absorption of EU structural funds
Assisting companies improve their competitiveness to face the challenges of the single market

5. EBRD Product Flexibility
Project-based financing to public or privately-owned companies and concessionaries.
Senior, subordinated, convertible.
Long Term or Short Term (revolving).
Floating / Fixed rates.
Choice of currencies.
Possibility to create A/B loan structures and to syndicate part of the loan to the market.
Loans
Common stock or preferred stock.
Minority positions only (up to 35%).
Mezzanine.
Equity
Partial guarantees.
Currency swaps.
Bonds.
Other

6. Projects signed in 2013
10/11/2018

7. EBRD Landmark Projects in Croatia
Natural resources
INA € 150m loan
Plinacro Gas Storage € 70m loan
Telecoms , IT & Media
VIP-NET GSM € 22m loan
Data Centre Kriz € 2m loan
Power & Energy
Pelet Group biomass
power plant € 4m loan
Property y & Tourism
Jadranka Hotels € 24m equity
10/11/2018

8. EBRD Landmark Projects in Croatia
Transport
Coridor Vc Completion € 61m loan
Port of Dubrovnik € 33m loan
Municipal & Environmental Infrastructure
Zagreb WW treatment plant € 42m loan
Karlovac WW Project € 10m loan
Financial Institutions
PBZ 2nd phase of privatisation € 114m equity
Zagrebacka banka SME/EE € 60m loan
Manufacturing & Services
Danieli ABS Sisak € 20m loan
Pliva Research facility € 19m loan
Agribusiness
Atlantic Grupa € 232m A/B loan & € 27.5m equity
Agrokor € 110m equity
Podravka EE € m loan
10/11/2018

9. Concluding remarks
EBRD aims to foster transition to market economies by applying sound banking principles. EBRD has a multi-sector, multi-product approach at supporting, but not replacing, private sector investment.
Our priorities include supporting corporates and SME’s navigate the crisis, promoting the restructuring of state-owned enterprises and assisting leveraging EU-accession benefits.
EBRD has broad experience in executing complex capital market transactions involving equity, debt and/or hybrid instruments, both alone or alongside other market participants.
10/11/2018

10. Q&A

11. Thank you!

12. EBRD contacts Vedrana Jelušić Kašić EBRD Director for Croatia
Tel: