PRESS RELEASE

BEI/14/11

Zagreb/Luxembourg, 20 January 2014

EIB supports upgrade of Croatia's touristic infrastructure

The European Investment Bank (EIB) is lending EUR 25million to finance renovation and expansion of hotel facilities on the Adriatic coast close to Dubrovnik.

The EIB loan will be provided to the Croatian Bank for Reconstruction and Development (HBOR - Hrvatskabankazaobnovuirazvitak) to onlendEIB funds to HoteliDubrovackaRivijerad.d., the project promoter and the final beneficiary of the loan.The project involves modernisation and rehabilitation of two existing hotels, including the corresponding tourism accommodation and leisure facilities and reconstruction of another hotel which has remained destroyed as a result of significantwar damagesin the early 1990s.

EIB Vice-President Dario Scannapiecocommented: "I very much welcome that the EIB financing helps to upgrade the hotel infrastructure in Croatia that is important for further development of tourism in the country in terms of quality and capacityincrease. This sector is of utmost significance as it contributes with some 15% to the Croatian GDP and has a big potential to accelerate thegrowth of the Croatian economy".

Anton Kova