| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 242.10 |
| Borrower/Recipient | 3.03 |
Helping Enterprises Access Liquidity in the Republic of Croatia
Abstract*
The development objectives of Helping Enterprises Access Liquidity Project for Croatia are: (i) to support the recovery of private sector exporters from the economic impact of the COVID-19 pandemic; (ii) enhance access to finance for firms in underserved segments and lagging regions; and (iii) to strengthen HBOR's institutional capacity as a development bank. The project has a single component to reflect the use of project proceeds, but forty percent... Show More
Development Objective
The project development objectives are: (i) to support the recovery of private sector exporters from the economic impact of the COVID-19 pandemic, (ii) enhance access to finance for firms in underserved segments and lagging regions, and (iii) to strengthen HBOR's institutional capacity as a development bank.
Key Details
Project Details
P172024
Active
Matija Laco
Croatian Bank for Reconstruction and Development (HBOR)
March 8, 2020
(as of board presentation)
May 14, 2021
November 29, 2021
US$ 341.97 million
Croatian Bank for Reconstruction and Development (HBOR)
2021
US$ 242.10 million
N/A
November 27, 2023
June 30, 2025
No
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 242.10 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 242.10 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 341.97 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Mar 15, 2023 | IBRD-92330 | Int Charges | 237,131.06 |
| May 14, 2021 | IBRD-92330 | Loan Commitment | 242,100,000.00 |
| Sep 15, 2022 | IBRD-92330 | Int Charges | 10,124.16 |
| Jun 12, 2023 | IBRD-92330 | Loan Disb | 21,546,000.00 |
| Sep 15, 2023 | IBRD-92330 | Int Charges | 227,863.23 |
| Sep 15, 2023 | IBRD-92330 | Int Charges | 660,672.00 |
| Apr 2, 2024 | IBRD-92330 | Loan Cancel | 107,440,000.00 |
| Mar 15, 2024 | IBRD-92330 | Int Charges | 213,559.88 |
| Mar 15, 2024 | IBRD-92330 | Int Charges | 1,006,497.80 |
| Feb 21, 2024 | IBRD-92330 | Loan Disb | 21,598,000.00 |
| Mar 15, 2022 | IBRD-92330 | Int Charges | 332,922.88 |
| Jun 24, 2022 | IBRD-92330 | Loan Disb | 21,076,000.00 |
| Jan 7, 2022 | IBRD-92330 | Fee Charges | 565,250.00 |
| Mar 15, 2023 | IBRD-92330 | Int Charges | 230,807.58 |
| Sep 15, 2022 | IBRD-92330 | Int Charges | 240,203.55 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Project Management | Satisfactory | 2025-01-16 |
| Monitoring and Evaluation | Satisfactory | 2025-01-16 |
| Progress towards achievement of PDO | Satisfactory | 2025-01-16 |
| Procurement | Satisfactory | 2025-01-16 |
| Financial Management | Satisfactory | 2025-01-16 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2025-01-16 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of exporters receiving sub-loans under the project that remain solvent Value 0.00 100.00 90.00 Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Number of firms financed in underserved segments and lagging regions Value 0.00 11.00 75.00 Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Increased use of EU funds by HBOR Value 1.10 3.55 8.00 Date December 31, 2019 December 31, 2022 June 30, 2025 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Amount of lending extended to project beneficiaries Value 0 EUR 27.1 million no less than EUR 200 million Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Amount of private co-financing mobilized Value 0 EUR 21.6 million At least 40% Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Number of financed project beneficiaries Value 0.00 31.00 150.00 Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Number of exporting firms financed Value 0 25 At least 50% of supported firms Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Number of women-owned or managed firms under the Project Value 0 7 At least 20% Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Number of jobs supported by the Project Value 0.00 3498.00 25000.00 Date May 31, 2021 August 31, 2023 June 30, 2025 Comment Citizen engagement: Firms that report project financing reflected their needs (%) Value 0.00 0.00 90.00 Date May 31, 2021 August 31, 2023 June 30, 2025 Comment PFIs compliance with prudential regulations Value Yes Yes Yes Date December 31, 2020 December 1, 2022 June 30, 2025 Comment NPL ratio under the Project Value 0 0 not more than industry average as defined by corpo Date May 31, 2021 August 31, 2023 June 30, 2025 Comment HBOR's total gross loans Value HRK 5.77 billion HRK 6.40 billion At least 10% increase of total gross loans compare Date December 31, 2019 December 31, 2022 June 30, 2025 Comment HBOR's net interest income Value HRK 353.0 million HRK 469.5 million preservation of positive financial result Date December 31, 2019 December 31, 2022 June 30, 2025 Comment HBOR's return on equity (excluding subsidies) Value 1.5 1.8 at least equal to inflation Date December 31, 2019 December 31, 2022 June 30, 2025 Comment