Erste gets EBRD’s line for MSMEs and energy efficiency


December 21, 2015





December 21, 2015




The European Bank for Reconstruction and Development said it is providing Erste & Steiermärkische Bank d.d. (Erste Bank Croatia) with funds to increase its support to micro, small and medium-sized enterprises (MSMEs) and to promote energy efficiency investments in the residential sector.

A EUR 20 million credit line will be extended to enable the bank to increase financing of small businesses which are important contributors to the country’s economic performance and a major employer, the press release said. Despite their key role for the economy, access to finance remains challenging, according to EBRD.

In addition, a EUR 10 million loan will finance subloans to borrowers under the Croatia Residential Sustainable Energy Financing Facility (CroSEFF). The EUR 60 million framework supports investments to address the high energy intensity of the residential sector in the country, EBRD said. Erste Bank Croatia will become the first local bank to join the CroSEFF framework.

Erste is the country’s third largest bank, with a market share of 15%. A credit line for MSMEs was signed in 2012, a credit line under the Western Balkans Sustainable Energy Finance Framework (WeBSEFF) followed in 2014, and most recently Erste Bank Croatia joined the EBRD’s Trade Facilitation Programme, in May 2015.

The EBRD said it has been active in Croatia as an investor since the country’s independence and has invested some €3.22 billion in 178 projects to date.

Related Articles


France’s EDF sells Europe’s first green bonds for nuclear energy

01 December 2023 - French state-owned power utility EDF raised EUR 1 billion for nuclear energy through a green bond issue, the first of its kind in Europe

Greece launch first guarantees origin auction early January

Greece to launch first guarantees of origin auction in early January

30 November 2023 - The first guarantees of origin of electricity in Greece are reportedly planned to be auctioned in the first half of January

vulcan lithium Landau Zero Carbon Lithium Project

Vulcan opens Europe’s first fully domestic lithium production plant in Germany

30 November 2023 - Lithium extraction from salt water has a much lower environmental impact than projects at salt deserts and mines


Croatia’s HEP starts up new unit at cogeneration plant in Zagreb

30 November 2023 - The new unit is HEP's largest investment in new generation facilities in the last ten years, and it will replace outdated units