EBRD, Erste Bank Croatia Lend 40 Million Euros to Local Firms

Erste & Steiermaerkische Bank d.d., a unit of Erste Group Bank AG (EBS), and the European Bank for Reconstruction and Development will lend 40 million euros ($51 million) to small business and individual customers in Croatia.

The funds will be channeled to small- and medium-sized enterprises through investment loans and working capital facilities to enhance their competitiveness as Croatia get ready to join the European Union in July, the two banks said today in a joint e-mail.

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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