- EBRD and ZABA sign EBRD’s first green uncapped portfolio guarantee under InvestEU
- Facility to unlock €100 million of new financing for eligible green projects. EBRD will provide risk sharing of the new portfolio and targeted technical assistance to ZABA and final borrowers
- Focus on sustainable energy investments in buildings and transport sector
The European Bank for Reconstruction and Development (EBRD) has partnered up with Zagrebačka banka d.d. (ZABA), to provide an uncapped unfunded portfolio guarantee of up to €80 million, under the European Union’s InvestEU programme. ZABA will be the EBRD’s first partner financial intermediary under the programme. The financial instrument is designed to cover a newly generated portfolio of loans. The financed projects will be implemented by a broad range of final borrowers (from residential buildings to large companies) in the historically difficult to decarbonize buildings and sustainable transport sectors. The projects financed will have to meet EBRD’s demanding eligibility criteria for green economy transition and strict technical standards and will contribute to energy savings and CO2 emission reductions. The EBRD facility, supported by first loss risk cover and technical assistance provided under the InvestEU Programme, will help bridge the investment gap needed to reach Croatia’s and EU energy and climate targets in the residential buildings and transport sectors. The investment will support EBRD’s strategic goals in Croatia by strengthening the resilience of the local banking sector and developing the green economy.
ZABA, a long-standing EBRD partner, is the largest systematically important bank in Croatia and a member of UniCredit Group, a pan-European financial services group with a unique service offering in Italy, Germany, Central and Eastern Europe.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition.
The EBRD, a leader in climate finance, has to date invested more than €4.7 billion in 252 projects in Croatia. EBRD is one of the main partners of the InvestEU Programme and deploys portfolio risk sharing instruments for financial intermediaries across the EU countries where EBRD operates.