The European Bank has secured 100m euros to support Croatian and Montenegrin tourism

The European Bank has secured 100m euros to support Croatian and Montenegrin tourism

first_imgThe European Bank for Reconstruction and Development (EBRD) supports the development of the tourism sector in Croatia and Montenegro in the amount of EUR 100 million through the Erste & Steiermärkische Bank (ECB) credit line. The funds are intended for sustainable investments in private catering and hotel companies and accompanying tourism activities. Erste Bank is the first financial institution to be granted a loan under the EBRD’s Inclusive Tourism Framework for the Eastern Mediterranean. The program represents a comprehensive approach to the financing of the tourism sector with a focus on a broader, faster and more systematic approach to the financing of tourism and related sectors. The program and approved credit line have the following goals. This important transaction was signed by EBRD President Suma Chakrabarti. “We are pleased to be able to provide much-needed capital for sustainable growth and further development of the tourism sector in Croatia and Montenegro. Tourism is an important driver of growth in both countries and we expect that through this investment new opportunities will open up for local companies and create new jobs. This new Program will allow the EBRD to reach more clients, including smaller ones”, He said during his stay in Zagreb. Suma Chakrabarti and Christoph Schoefboeck “We are very pleased to have become the first partner bank within this EBRD program and we are pleased to continue and further deepen the long-standing successful cooperation between our two institutions. Support to tourism is one of our basic strategic determinants and we believe that through this credit line we will enable our clients to realize many successful projects in this segment, which will contribute to their further strengthening and positioning in the domestic and international markets.and “, Christoph Schoefboeck, President of the Management Board of Erste Bank, emphasized on this occasion. The first is to increase employment opportunities for young people and women through internships and, through cooperation with local universities and vocational schools through the establishment of new or improved vocational programs, to promote vocational internships and equal employment opportunities policies. Also, the goal is to strengthen the connection with local suppliers through the cooperation of all important stakeholders, which is crucial for better development of local value chains and deeper integration of local farmers. Photo: Erste Bank; European Bank for Reconstruction and Developmentlast_img

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