| Project Detail |
Provision of a credit line of up to EUR 100 million under the Inclusive Tourism Framework for the Eastern Mediterranean (the "Framework" OpID 49430) to Erste & Steiermarkische Bank d.d. in Croatia ("ESB").
Project Objectives
The credit line will be used by ESB to finance investments for private tourism enterprises in Croatia and Montenegro. Sub-borrowers will be able to use the funds to finance hotels, marinas, camping, entertainment, tour operators and other tourism activities. The focus is on providing funds for upgrading, renovation and long-term growth of the sector in both countries, while improving access to training and employment opportunities and promoting backward linkages to local suppliers.
Transition Impact
ETI score: 60
The loan will support youth and gender inclusion by training and establishing new or substantially enhanced cooperation programmes with local universities or vocational schools, which will facilitate training opportunities in a relevant field. Additionally, the project will support integration of a significant number of local/regional suppliers into the tourism value chains through the dedicated technical cooperation and relevant policy dialogue activities. |
