Minister Primorac attends a constituent meeting of the World Bank and IMF

The Croatian Deputy Prime Minister and Finance Minister was in Luxemburg on Friday where he participated in the constituent meeting of the World Bank and the International Monetary Fund. The primary theme of the meeting was global fragmentation, with a focus on climate transition, digital transformation and innovative policies for sustainable growth and regional cooperation. Also discussed was the impact of geopolitical changes on fiscal policies, as well as the strengthening of regional cooperation in the context of EU enlargement and trade relations.

On the fringes of the gathering, Deputy Prime Minister and Finance Minister Marko Primorac held a series of bilateral meetings. During his meeting with the Vice President of the International Finance Corporation, Alfonso Garcia Mora, the two men expressed mutual satisfaction with the level of cooperation between Croatian and IFC, and discussed the economic challenges and planned activities in the new five-year cooperation framework for the 2025-2030 period. Mora said that the IFC plans to invest in Croatia with an emphasis on stimulating the business environment, improving operational efficiency and management, and strengthening resilience to climate change. In a statement released by the Finance Ministry, it was noted that a special emphasis was placed on supporting small and medium-sized enterprises, digitalization, innovation, and investments in the tourism and agriculture sectors.

Minister Primorac also met with the Vice President for the Europe and Central Asia Region at the World Bank, Antonella Bassani, with whom he discussed the implementation of the new cooperation framework, which envisages financial support for priorities such as increasing investments, creating more productive jobs and strengthening resistance to environmental challenges. Opinions were also exchanged regarding the strengthening and development of the investment environment, and in this context the World Bank expressed its readiness to provide support. Also emphasized was the importance of continuing reform processes.

During his meeting with the President of the European Court of Auditors Tony Murphy and Court member Ivana Maletić, Minister Primorac discussed reports and recommendations related to the National Recovery and Resilience Plan, the upcoming member state negotiations on the next period of the Multiannual Financial Framework, and the importance of cohesion policy for long-term development. The minister briefed Murphy on Croatia's positive macroeconomic indicators, improved credit rating and efforts to create a favorable business environment for investments.

Primorac also held a meeting with the executive director of the European Investment Fund (EIF), Marjut Falkstedt, with whom he discussed the current activities of the EIF in Croatia and the possibilities of improving cooperation in the field of venture capital funds, with a special emphasis on support for innovation, small and medium-sized enterprises and start-ups. Both expressed great interest in further improving cooperation, recognizing the importance of investments in venture capital for the development of innovation and entrepreneurship, which are key to the long-term economic competitiveness of Croatia and the entire region.

Among others, Primorac also met with the his Montenegrin and North Macedonian counterparts, Novica Vuković and Gordana Dimitrievska-Kochoska respectively, with whom he shared Croatia's experiences in issuing "national" bonds and treasury bills and expressed readiness to provide assistance and support in the development of the securities issuance systems of these countries.

Source: HRT