Investment in Croatia: 22 Million Kuna Cash Injection for Umag

By 27 November 2019

Investment in Croatia is often a set of words that makes people shudder. This country, while in desperate need of investment, be it foreign or otherwise, likes to put up as many draconian, outdated barriers as possible, often resulting in putting off would-be investors entirely. But it isn't all so bleak, and as usual, Istria is a shining example.

As Poslovni Dnevnik writes on the 27th of November, 2019, within the project "Umag - City of Children 2010-2020" The Istrian city of Umag has continued to invest in education and to ensure the best educational conditions and standards for its residents.

At yesterday's press conference, the Mayor of the City of Umag, Vili Bassanese, his deputies and others from the city's administration, as well as representatives from the local school on which the project is focused, and the project's contractor, presented the project.

"The energetic renovation of the building of Osnovna škola Marije i Line was officially presented to the public at Školska 14, City of Umag ", with a total value of almost 22 million kuna, according to a report from local portal Glas Istre.

This project was submitted to the tender of the Ministry of Construction and Physical Planning from the Operational Program of Competitiveness and Cohesion 2014-2020. The project is financed by the European Regional Development Fund with 7,147,248.16 kuna in grants, 8,815,698 kuna in grants from the fund for co-financing EU projects at the regional and local level of the Ministry of Regional Development and EU Funds, as well as 5,879,832 kuna from the budget City of Umag itself.

The main objective of the project is to save 61.45 percent of the school's heating energy on an annual basis when compared to the annual consumption before the energy renovation, which will be achieved by increasing the thermal protection of the roof and the exterior walls, installing new high-efficiency heating system and more.

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