Export Finance Intermediation Loan

Abstract*

The objective of the Export Finance Intermediation Loan Project for Croatia is to support the preservation and growth of exports by providing medium- and long-term working capital and investment finance to exporters and foreign exchange earning enterprises. The Croatia Export Finance Intermediation Loan (CEFIL) is a single component project consisting of a credit line to Croatian Bank for Reconstruction and Development (HBOR) as the Borrower and implementing... Show More

Development Objective

The PDO is to support the preservation and growth of exports by providing medium and long term working capital and investment finance to exporters and foreign exchange earning companies

Key Details

Project Details

Project ID
P116080
Status
Closed
Team Leader
Natalie Nicolaou
Borrower 2
Croatian Bank for Reconstruction and Development (HBOR)

Country
Croatia
Disclosure Date
April 27, 2009
Approval Date
(as of board presentation)
August 4, 2009
Effective Date
November 25, 2009

Total Project Cost 1
US$ 141.22 million
Implementing Agency
Croatian Bank for Reconstruction and Development (HBOR)
Region
Europe and Central Asia
Fiscal Year 3
2010

Commitment Amount
US$ 141.22 million
Environmental Category
F
Last Update Date
June 17, 2020
Closing Date
August 31, 2016

Last Stage Reached
BANK APPROVED

Associated Projects
P129220

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Stability50%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring50%

FY17 - Private Sector Development

FY17 - Business Enabling Environment50%
- FY17 - Investment and Business Climate50%
FY17 - Jobs100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	141.22

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	141.22
IDA Commitment	N/A
IBRD + IDA Commitment	141.22

Lending Instrument
Grant Amount	N/A
Total Project Cost**	141.22

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

No data available.

Detailed Financial Activity as of February 28, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Oct 15, 2013	IBRD-81930	Int Charges	40,288.64
Dec 24, 2013	IBRD-77740	Loan Disb	-162,009.00
Dec 31, 2013	IBRD-77740	Loan Cancel	163,045.31
Apr 15, 2014	IBRD-81930	Int Charges	89,963.14
Apr 15, 2014	IBRD-77740	Int Charges	1,024,414.06
Jul 15, 2014	IBRD-81930	Loan Disb	4,081,800.00
Apr 15, 2023	IBRD-81930	Int Charges	366,681.75
Apr 15, 2019	IBRD-81930	Int Charges	155,639.34
Apr 15, 2019	IBRD-81930	Int Charges	68,148.80
Apr 15, 2019	IBRD-81930	Int Charges	63,115.38
Apr 15, 2019	IBRD-77740	Int Charges	963,208.30
Apr 15, 2019	IBRD-77740	Loan Repay	2,632,341.80
Apr 15, 2019	IBRD-81930	Int Charges	438,142.88
Oct 15, 2019	IBRD-81930	Loan Repay	128,336.40
Oct 15, 2019	IBRD-81930	Loan Repay	159,137.14
Oct 15, 2019	IBRD-81930	Int Charges	438,142.88
Oct 15, 2019	IBRD-81930	Loan Repay	537,301.50
Oct 15, 2019	IBRD-77740	Int Charges	913,347.44
Oct 15, 2019	IBRD-77740	Loan Repay	2,563,688.00
Oct 15, 2019	IBRD-81930	Loan Repay	410,676.47
Oct 15, 2019	IBRD-81930	Int Charges	66,371.42
Oct 15, 2019	IBRD-81930	Int Charges	61,469.28
Oct 15, 2019	IBRD-81930	Int Charges	151,580.14
Apr 15, 2020	IBRD-81930	Loan Repay	157,576.97
Apr 15, 2020	IBRD-77740	Loan Repay	2,538,553.80
Apr 15, 2020	IBRD-81930	Int Charges	427,934.16
Apr 15, 2020	IBRD-81930	Loan Repay	537,301.50
Apr 15, 2020	IBRD-81930	Int Charges	146,596.90
Apr 15, 2020	IBRD-77740	Int Charges	879,896.00
Apr 15, 2020	IBRD-81930	Int Charges	64,189.41
Apr 15, 2020	IBRD-81930	Int Charges	59,448.45
Apr 15, 2020	IBRD-81930	Loan Repay	406,650.25
Apr 15, 2020	IBRD-81930	Loan Repay	127,078.20
Oct 15, 2020	IBRD-81930	Int Charges	417,725.40
Oct 15, 2020	IBRD-81930	Loan Repay	537,301.50
Oct 15, 2020	IBRD-81930	Loan Repay	169,278.23
Oct 15, 2020	IBRD-77740	Int Charges	918,918.70
Oct 15, 2020	IBRD-77740	Loan Repay	2,727,060.20
Oct 15, 2020	IBRD-81930	Int Charges	153,725.90
Oct 15, 2020	IBRD-81930	Int Charges	67,310.93
Oct 15, 2020	IBRD-81930	Int Charges	62,339.43
Oct 15, 2020	IBRD-81930	Loan Repay	436,847.03
Oct 15, 2020	IBRD-81930	Loan Repay	136,514.70
Oct 15, 2021	IBRD-81930	Loan Repay	135,273.98
Oct 15, 2021	IBRD-77740	Int Charges	858,413.06
Oct 15, 2021	IBRD-77740	Loan Repay	2,702,275.20
Oct 15, 2016	IBRD-81930	Int Charges	66,341.30
Oct 15, 2016	IBRD-81930	Int Charges	61,441.38
Jan 12, 2017	IBRD-81930	Loan Disb	3,533,900.50
Jan 13, 2017	IBRD-81930	Loan Disb	19,526,250.00
Jan 26, 2017	IBRD-81930	Loan Disb	-23,060,150.00
Jan 26, 2017	IBRD-81930	Loan Disb	23,060,150.00
Feb 28, 2017	IBRD-81930	Loan Cancel	1,217,289.50
Apr 15, 2017	IBRD-81930	Int Charges	19,884.04
Apr 15, 2017	IBRD-81930	Int Charges	192,296.05
Apr 15, 2017	IBRD-81930	Int Charges	146,165.58
Apr 15, 2017	IBRD-81930	Int Charges	64,000.58
Apr 15, 2017	IBRD-81930	Int Charges	59,273.55
Apr 15, 2017	IBRD-77740	Int Charges	1,000,001.30
Apr 15, 2017	IBRD-77740	Loan Repay	2,472,111.20
Oct 15, 2017	IBRD-81930	Int Charges	71,251.67
Oct 15, 2017	IBRD-81930	Int Charges	65,989.08
Oct 15, 2017	IBRD-81930	Int Charges	438,142.88
Oct 15, 2017	IBRD-77740	Int Charges	1,086,740.00
Oct 15, 2017	IBRD-77740	Loan Repay	2,752,194.50
Oct 15, 2017	IBRD-81930	Int Charges	162,725.73
Apr 15, 2018	IBRD-81930	Int Charges	68,762.34
Apr 15, 2018	IBRD-77740	Int Charges	1,104,736.60
Apr 15, 2018	IBRD-77740	Loan Repay	2,867,858.50
Apr 15, 2018	IBRD-81930	Int Charges	438,142.88
Apr 15, 2018	IBRD-81930	Int Charges	169,564.45
Apr 15, 2018	IBRD-81930	Int Charges	74,246.10
Oct 15, 2018	IBRD-77740	Int Charges	1,013,694.90
Oct 15, 2018	IBRD-77740	Loan Repay	2,699,133.50
Oct 15, 2018	IBRD-81930	Int Charges	159,588.45
Oct 15, 2018	IBRD-81930	Int Charges	69,877.97
Oct 15, 2018	IBRD-81930	Int Charges	64,716.84
Oct 15, 2018	IBRD-81930	Int Charges	438,142.88
Oct 15, 2014	IBRD-77740	Int Charges	1,020,660.20
Oct 15, 2014	IBRD-81930	Int Charges	102,066.95
Oct 7, 2014	IBRD-81930	Loan Disb	3,778,350.00
Jul 23, 2013	IBRD-81930	Loan Disb	13,172,500.00
Jul 15, 2013	IBRD-77740	Loan Disb	6,670,924.50
Oct 15, 2013	IBRD-77740	Int Charges	948,920.10
Sep 20, 2012	IBRD-81930	Loan Commitment	61,410,000.00
Aug 4, 2009	IBRD-77740	Loan Commitment	141,220,000.00
Apr 15, 2021	IBRD-81930	Loan Repay	172,839.17
Apr 15, 2021	IBRD-81930	Loan Repay	446,036.56
Apr 15, 2021	IBRD-81930	Loan Repay	139,386.44
Apr 15, 2021	IBRD-81930	Int Charges	407,516.70
Apr 15, 2021	IBRD-81930	Loan Repay	537,301.50
Apr 15, 2021	IBRD-81930	Int Charges	153,123.78
Apr 15, 2021	IBRD-81930	Int Charges	67,047.26
Apr 15, 2021	IBRD-81930	Int Charges	62,095.25
Apr 15, 2021	IBRD-77740	Int Charges	911,379.30
Apr 15, 2021	IBRD-77740	Loan Repay	2,784,426.80
Oct 15, 2021	IBRD-81930	Int Charges	144,883.30
Oct 15, 2021	IBRD-81930	Int Charges	63,439.08
Oct 15, 2021	IBRD-81930	Int Charges	58,753.54
Oct 15, 2021	IBRD-81930	Loan Repay	432,876.72
Oct 15, 2021	IBRD-81930	Loan Repay	167,739.73
Oct 15, 2021	IBRD-81930	Int Charges	397,307.94
Oct 15, 2021	IBRD-81930	Loan Repay	537,301.50
Apr 15, 2022	IBRD-81930	Loan Repay	537,301.50
Apr 15, 2022	IBRD-81930	Int Charges	387,099.25
Apr 15, 2022	IBRD-81930	Loan Repay	125,924.85
Apr 15, 2022	IBRD-81930	Int Charges	57,537.24
Apr 15, 2022	IBRD-81930	Int Charges	131,404.58
Apr 15, 2022	IBRD-81930	Int Charges	53,287.61
Apr 15, 2022	IBRD-81930	Loan Repay	402,959.53
Apr 15, 2022	IBRD-77740	Loan Repay	2,515,514.20
Apr 15, 2022	IBRD-77740	Int Charges	774,811.30
Apr 15, 2022	IBRD-81930	Loan Repay	156,146.81
Oct 15, 2022	IBRD-81930	Loan Repay	362,920.80
Oct 15, 2022	IBRD-81930	Loan Repay	113,412.75
Oct 15, 2022	IBRD-81930	Loan Repay	140,631.81
Oct 15, 2022	IBRD-77740	Int Charges	675,962.00
Oct 15, 2022	IBRD-77740	Loan Repay	2,265,568.50
Oct 15, 2022	IBRD-81930	Int Charges	376,890.47
Oct 15, 2022	IBRD-81930	Loan Repay	537,301.50
Oct 15, 2022	IBRD-81930	Int Charges	115,226.87
Oct 15, 2022	IBRD-81930	Int Charges	50,453.62
Oct 15, 2022	IBRD-81930	Int Charges	46,727.18
Apr 15, 2023	IBRD-81930	Loan Repay	159,751.10
Apr 15, 2023	IBRD-77740	Int Charges	743,025.90
Apr 15, 2023	IBRD-77740	Loan Repay	2,573,578.80
Apr 15, 2023	IBRD-81930	Loan Repay	537,301.50
Apr 15, 2023	IBRD-81930	Int Charges	127,346.88
Apr 15, 2023	IBRD-81930	Int Charges	55,760.52
Apr 15, 2023	IBRD-81930	Loan Repay	412,260.88
Apr 15, 2023	IBRD-81930	Int Charges	51,642.11
Apr 15, 2023	IBRD-81930	Loan Repay	128,831.53
Oct 15, 2023	IBRD-81930	Int Charges	51,558.60
Oct 15, 2023	IBRD-81930	Int Charges	356,473.03
Oct 15, 2023	IBRD-77740	Int Charges	683,088.25
Oct 15, 2023	IBRD-77740	Loan Repay	2,447,791.50
Oct 15, 2023	IBRD-81930	Int Charges	47,750.54
Oct 15, 2023	IBRD-81930	Loan Repay	392,111.03
Oct 15, 2023	IBRD-81930	Loan Repay	122,534.70
Oct 15, 2023	IBRD-81930	Loan Repay	151,943.03
Oct 15, 2023	IBRD-81930	Loan Repay	537,301.50
Oct 15, 2023	IBRD-81930	Int Charges	117,750.44
Apr 15, 2024	IBRD-81930	Int Charges	115,889.84
Apr 15, 2024	IBRD-81930	Int Charges	346,264.30
Apr 15, 2024	IBRD-81930	Loan Repay	537,301.50
Apr 15, 2024	IBRD-81930	Int Charges	50,743.92
Apr 15, 2024	IBRD-81930	Int Charges	46,996.03
Apr 15, 2024	IBRD-81930	Loan Repay	397,292.97
Apr 15, 2024	IBRD-81930	Loan Repay	124,154.05
Apr 15, 2024	IBRD-81930	Loan Repay	153,951.02
Apr 15, 2024	IBRD-77740	Int Charges	668,182.20
Apr 15, 2024	IBRD-77740	Loan Repay	2,480,140.20
Apr 15, 2015	IBRD-81930	Int Charges	973.64
Apr 15, 2015	IBRD-81930	Int Charges	96,733.33
Jun 17, 2015	IBRD-81930	Loan Disb	-5,626,000.00
Jun 17, 2015	IBRD-81930	Loan Disb	5,626,000.00
Apr 15, 2015	IBRD-77740	Loan Disb	-105,704,656.00
Apr 15, 2015	IBRD-77740	Loan Disb	105,704,656.00
Apr 15, 2015	IBRD-81930	Loan Disb	-16,932,800.00
Apr 15, 2015	IBRD-81930	Loan Disb	16,932,800.00
Jun 17, 2015	IBRD-81930	Loan Disb	5,626,000.00
Apr 15, 2015	IBRD-77740	Int Charges	721,434.30
Oct 15, 2015	IBRD-81930	Int Charges	157,324.94
Oct 15, 2015	IBRD-81930	Int Charges	45,159.16
Oct 15, 2015	IBRD-77740	Int Charges	1,102,026.00
Jan 4, 2016	IBRD-81930	Loan Disb	6,768,540.00
Apr 15, 2016	IBRD-81930	Loan Disb	-6,992,670.00
Apr 15, 2016	IBRD-81930	Loan Disb	6,992,670.00
Apr 15, 2016	IBRD-81930	Int Charges	19,416.32
Apr 15, 2016	IBRD-81930	Int Charges	155,192.14
Apr 15, 2016	IBRD-81930	Int Charges	67,952.99
Apr 15, 2016	IBRD-77740	Int Charges	1,087,086.20
Oct 15, 2016	IBRD-77740	Int Charges	1,061,303.00
Oct 15, 2016	IBRD-77740	Loan Repay	2,562,524.50
Oct 15, 2016	IBRD-81930	Int Charges	151,511.34

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Monitoring and Evaluation	Satisfactory	2016-08-29
Overall Implementation Progress (IP)	Moderately Satisfactory	2016-08-29
Project Management	Satisfactory	2016-08-29
Overall Safeguards Rating	Satisfactory	2016-08-29
Progress towards achievement of PDO	Satisfactory	2016-08-29
Procurement	Satisfactory	2016-08-29
Financial Management	Satisfactory	2016-08-29

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 04-28-2017
Outcomes
Risk to Development Outcome	Substantial
Bank Performance
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 09-27-2017	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome	Modest	N/a
Bank Performance	Satisfactory	N/a
Borrower Performance	Satisfactory	N/a
Government Performance	Satisfactory	N/a
Implementing Agency	Satisfactory	N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Level of exports growth or preservation of beneficiary firms Value 1.00 1.16 1.00
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment
Volume of medium and long-term lending to firms under the project Value 0.00 200.60 202.60
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Quality of Portfolio - Total NPLs as number of loans Value 0.00 4.00 7.00
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment
Quality of Portfolio - Total NPLs (in percent) Value 0.00 1.28 7.00
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment
Level of job creation or preservation Value 1.00 1.05 1.00
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment
Number of firms financed under the project Value 0.00 80.00 60.00
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment
Number of firms with female owners financed Value 0.00 4.00 0.00
Date August 4, 2009 August 29, 2016 August 31, 2016
Comment

Level of exports growth or preservation of beneficiary firms	Value	1.00	1.16	1.00
	Date	August 4, 2009	August 29, 2016	August 31, 2016
	Comment

Volume of medium and long-term lending to firms under the project	Value	0.00	200.60	202.60
	Date	August 4, 2009	August 29, 2016	August 31, 2016
	Comment

Level of job creation or preservation	Value	1.00	1.05	1.00
	Date	August 4, 2009	August 29, 2016	August 31, 2016
	Comment