EUR 411 million Croatian capital injection into development bank HBOR approved
The Commission has approved a EUR 411 million capital injection by Croatia into its national development bank, Hrvatska Banka za Obnovu i Razvitak (HBOR). The measure is funded through the Recovery and Resilience Facility (RRF) and will expand HBOR’s role in supporting sustainable economic growth and competitiveness, with a focus on SMEs, renewable energy, infrastructure, and projects driving digital and green transitions.
The Commission greenlighted the measure under Article 107(3)(c) TFEU, concluding that the aid is necessary, proportionate, and has an incentive effect, as it addresses market gaps that would otherwise limit investment. Croatia has also committed to safeguards to prevent distortions of competition, including avoiding crowding out private sector financing.
For more information, see the Commission’s PR.