Home / Knowledge / News / WB loan to support CEFIL project fostering recovery
WB loan to support CEFIL project fostering recovery
06
Aug '09
The World Bank approved a EUR100 million (USD$141.2 million equivalent) loan to the Croatian Bank for Reconstruction and Development to expand the private sector's access to credit and boost competitiveness, particularly among exporters.

The Croatia Export Finance Intermediation Loan (CEFIL) Project will support the Government of Croatia's efforts to ensure steady flow of credit to strategic private businesses. The loan will support the Government's goal of enhancing economic competitiveness by preserving exports and employment, and fostering sustainable growth and recovery during this period of global economic downturn. More specifically, the project will support export growth by providing working capital and investment finance to exporters, and foreign exchange-earning enterprises such as in tourism and logistics sector.

The project will be implemented by the Croatian Bank of Reconstruction and Development which will make the project funds available to commercial banks, which in turn will on-lend to eligible private companies.

”The global economic recession has affected all of the economies in the region, including Croatia's. Limited liquidity in global markets has meant restricted access to medium- and long-term financing for many private enterprises which are an important engine for growth and job creation,” said Theodore Ahlers, World Bank Acting Country Director for Croatia.

“Through this loan, we will help the Government of Croatia's efforts to stabilize the economy by making additional financing available to exporters so they can continue to invest in their businesses and create employment opportunities.”

Since joining the World Bank in 1993, Croatia has received support from the global development institution in the form of financial and technical assistance, policy advice and analytical services. To date, the Bank has supported 41 operations with a total value of US$2.52 billion, and it has approved 52 grants with a total value of US$70 million.

World Bank

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search