Croatian Bank for Reconstruction and Development

Croatian Bank for Reconstruction and Development (HBOR) is a national development and export bank, and export credit insurer.

The mission of HBOR is to support sustainable economic growth by offering a wide range of finance and export credit insurance products as well as issuance of bonds and guarantees.

As a state bank, via different financing programmes, HBOR supports small and medium-sized entrepreneurship, infrastructure projects, tourism, industry, agriculture, environmental protection and export (pre- and post-shipment export finance, supplier/buyer credit, credit lines) with the intention to balance the regional development of Croatia. HBOR also gives loans for incentives to SME start-ups and loans to improve liquidity as well as loans for innovations and new technology projects. As an export credit insurer, HBOR provides state-backed pre- and post-shipment cover of non-marketable risks against commercial and political risks for export transactions to companies, commercial banks and other financial institutions as well as outward investment insurance.

In January 2010 a new insurance company (Croatian Credit Insurance J.S.C. (HKO)) for marketable risks was established by HBOR & OekB Südosteuropa GmbH. As the first specialized credit insurer in Croatia covering short term credit risks, HKO added new value to the Croatian economy, offering companies a tool to improve risk management and payment discipline. The products of the Company are complementary to HBOR’s export credit insurance service for the coverage of non-marketable risks. In October 2010 HKO incorporated as the sole shareholder a limited liability company (Poslovni info servis L.L.C. (PIS)). Main field of operation activities of the Company is: services in connection with lending transactions: collecting information, preparation of analyses and giving information on creditworthiness of legal and natural persons/sole proprietors.

HBOR co-operates with a wide range of organisations, including export credit agencies, international banks and supranational institutions to meet the needs of Croatian entrepreneurs.

In addition, HBOR has signed cooperation agreements with more than 50 different export credit agencies, export banks, development banks and other international financial institutions worldwide, for the purpose of facilitating access to information on export markets and widening the framework of HBOR’s operations.