15 Million Euro Allocated for Preservation of Nature in Croatia

By 29 May 2018

ZAGREB, May 28, 2018 - The European Investment Bank and the European Commission have secured 15 million euro for the Croatian Bank for Reconstruction and Development (HBOR) for the technical support programme which will enable the HBOR to better identify projects aimed at preserving biodiversity, improve green infrastructure and strengthen the resistance to climate changes.

Apart from the investment operation in Croatia, another one has been launched in Ireland for the support of forestry and preservation of biodiversity.

Both operation have the support of the Instrument for financing natural capital, a financial instrument worth 125 million kuna.

Technical and financial expertise from similar nature conservation focused projects elsewhere in Europe will strengthen investment in Croatia. A dedicated technical assistance programme is currently being rolled out that will ensure that the HBOR can better identify natural capital projects with the greatest environmental impact and improve preparation of individual schemes by local businesses and public bodies.

The HBOR is the first intermediary to benefit from both financing and technical preparations supported by the Natural Capital Financing Facility. This reflects Croatia’s rich biodiversity and crucial role in nature conservation as one of the most diverse locations for plant diversity anywhere in Europe. 34% of nature areas in the country are protected under Natura 2000.

Croatian companies expected to benefit from new financing include firms engaged in sustainable agriculture, commercial forestry operations and tourism.