EIB provides EUR 15 million to HBOR for biodiversity improvement
European Investment Bank (EIB) has provided EUR 15 million to Croatian Bank for Reconstruction and Development (HBOR) under the Natural Capital Financing Facility in order to improve conservation of existing biodiversity, improve green infrastructure and strengthen climate change resilience.
The Natural Capital Financial Facility, founded 3 years ago by the EIB and the European Commission, has supported new investment by nature-focused businesses and transformational schemes across Europe.
A dedicated technical assistance programme is currently being rolled out that will ensure that HBOR can better identify natural capital projects with the greatest environmental impact and improve the preparation of individual schemes by local businesses and public bodies, EIB said in a statement.
The bank recalled that 34% of nature areas in the country are protected under Natura 2000.
Croatian companies expected to benefit from new financing include firms engaged in sustainable agriculture, commercial forestry operations and tourism, the bank said in a statement.