More than 500 million Kuna are available in the loan program, with a one million Kuna limit for individual projects. The loans come with a repayment period of up to 15 years.
An agreement for investment loans for rural development was signed between the Croatian Bank for Reconstruction and Development, or HBOR, and commercial banks on Tuesday. Agriculture Minister Marija Vučković believes the program will be of great interest to Croatian farmers. "I am confident that this instrument will be more than welcomed by our farmers, especially given that we have all but exhausted our non-refundable loans for those most sought after measures."
Outlining the terms of the loans on offer, HBOR CEO Tamara Perko noted that the loan program was an excellent opportunity for the development of rural areas in Croatia. "The loans will be issued by commercial banks. The average weighted interest rate should be between 1.2 percent and 2.1 percent," Perko said.
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