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A financial instrument was presented at the Ministry of Tourism and Sports Loans for sustainable tourism, whose goal is to increase competitiveness through investments in products with higher added value that will contribute to the development of sustainable tourism and the quality of tourist products and services.
This new financing program was presented by the Minister of Tourism and Sports, Tonči Glavina, the Minister of Regional Development and European Union Funds, Šime Erlić, and the President of the Board of the Croatian Bank for Reconstruction and Development, Hrvoje Čuvalo.
"After securing never-greater funds for the development of private entrepreneurship in tourism through the National Recovery and Resilience Plan, on the basis of which today, through NPOO, we co-finance 55 private projects with a total value of slightly less than 390 million euros, of which our Ministry participates in their implementation with more than 161 million euros in grants, with the Loans for Sustainable Tourism, we are continuing this funding cycle that has begun HBOR funds in the amount of slightly less than 90 million euros, the total value of this entire program reaches the amount of 80 million euros", said the minister Tonči Glavina and added:
"Investments that will be supported include the construction, reconstruction, arrangement and equipping of hospitality facilities for accommodation, as well as additional contents that increase the attractiveness and diversity of the offer, especially in sectors such as health, culture, food and wine, business, sports-recreational and ecological tourism ", concluded Glavina.
This new program, whose funds come from the European Fund for Regional Development and the Competitiveness and Cohesion Program, is designed with the aim of supporting financially sustainable investments, and with the possibility of writing off part of the loan principal, entrepreneurs will be provided with more favorable conditions and financing of projects that contribute to the development of sustainable tourism. The credit line offers amounts from a minimum of EUR 250.000 to a maximum of EUR 7 million, and part of the principal up to a maximum of 50% of the principal amount can be written off if the defined criteria are met. Eligible applicants for this program are micro, small and medium-sized entrepreneurs operating in the tourism sector.
"Even in this financial period, we continue to strongly support development projects through financial instruments. Their total value exceeds 1,2 billion euros, of which we allocated 170 million euros to stimulate the tourist offer, with special emphasis on less developed areas. I would also like to point out that Urbani a development fund worth EUR 180 million, which for the first time enabled local self-government units to invest in commercial projects, including those from the tourism sector, with the possibility of writing off up to 50 percent of the loan principal. With this financing model, we contribute to the development of commercial projects and encourage new investments throughout Croatia.", said the Minister of Regional Development and European Union Funds Šime Erlić.
"I am extremely glad that HBOR, in cooperation with the relevant ministries, is participating in the implementation of this financial instrument that will significantly contribute to the development of sustainable tourism. It is important to point out that applications for loans are received exclusively online, which further simplifies and speeds up the process for our entrepreneurs. This is another example of how we successfully combine EU funds and our own resources to support development projects", He said Hrvoje Cuvalo, president of the HBOR Management Board.
Source and photo: MINTS
