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Additional finance for businesses in Croatia following CIP guarantee agreement

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    Date: 17 January 2014

The European Investment Fund (EIF) and HAMAG, the Croatian Agency for SMEs and Investment, have signed a CIP counter-guarantee agreement to support Start-Up Small and Medium-sized Enterprises (SMEs) in Croatia.

The CIP support, will allow HAMAG to substantially increase its guarantee volumes to start-ups. HAMAG will provide a total of HRK 400,000,000 (ca. EUR 53.4m) of guarantees over the three year period increase its maximum guarantee rate and focus even more on supporting higher risk start-ups. This in turn will allow Croatian banks to provide more loans to start-ups at favourable terms. Approx. 650 Croatian start-up companies are expected to be supported when making investments, expanding their businesses and creating jobs.

Fore more information, please refer to the press release issued by Hamag

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