Regional: Erste Inclusive Tourism Credit Facility (EBRD-51613)

Countries
  • Croatia
  • Montenegro
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 11, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ERSTE & STEIERMARKISCHE BANK DD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 111.28 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100
Converted using 2020-01-14 exchange rate.
Project Cost (USD)
$ 111.28 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 100
Converted using 2020-01-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 24, 2020

Disclosed by Bank Jan 14, 2020


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Project Description

According to the Bank's website, this project finances onlending to private tourism enterprises in Croatia and Montenegro. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Erste & Steiermarkische Bank d.d.  originates from the former regional banks - Rijecka, Bjelovarska, Trgovacka and Cakovecka banka and has been operating under the current name since 1 August 2003. Today it is a modern bank, ranked third on the Croatian market by total assets, being a part of the international Erste Group, one of the leading financial service providers in CEE.  ESB's registered office is in Rijeka and its headquarters are in Zagreb.

Contact Information

Company Contact 

Sanja Gracin
sgracin@erstebank.com 
+385 (0) 72 37 1700
www.erstebank.hr 

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.