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About Dropdown Description

World Bank building
About

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Learn More

Our Impact Dropdown Description

Hands husking peas into a basket full of peas
Our Impact

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Learn More

Our Products Dropdown Description

Young woman bending down to tending to her outside chores
What We Do

Explore different types of political risk insurance guarantees provided to investors and lenders.

Learn More

Projects Dropdown Descriptions

Hyundai building
Projects

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Search Projects
Croatia

Splitska banka d.d.

$61.75 million
Financial Services
Project Brief
Not Active
twitteremail

MIGA has provided a $61.8 million guarantee to Bank Austria Creditanstalt AG (Bank Austria) of Austria to cover its $65 million shareholder loan to Splitska banka d.d. (Splitska) in Croatia. The coverage is for a period of 10 years and against the risk of Transfer Restriction.

Bank Austria's shareholder loan will allow Splitska to increase its lending in Croatia, thereby bolstering the country's financial sector through the provision of medium-term financing. Splitska will continue to play a leading role in providing expertise, technical solutions and new products to the Croatian financial sector. In addition, the project will increase the availability of capital with longer tenors to Croatian companies. Splitska has numerous downstream benefits as it expects to on-lend to companies in sectors such as tourism, construction and manufacturing. Splitska also expects to provide loans to SMEs in need of financing and thus improve their access to financial services.

 

While Splitska will not directly contribute to export earnings, it will on-lend to Croatian companies involved in exporting and indirectly contribute to Croatia's foreign exchange earnings.

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