Privredna Banka Zagreb : EBRD loan to Privredna banka Zagreb to support women in business

The European Bank for Reconstruction and Development (EBRD) is providing Privredna banka Zagreb d.d. (PBZ) with a €10 million loan to support women-led micro, small and medium-sized enterprises (MSMEs) in Croatia.

The loan is supported by EBRD's successful Women in Business Programme in Croatia, which aims at promoting women entrepreneurship in the country and women's participation in business, by supporting women-owned and women-led business.

The programme does not only offer access to finance but also advisory and support services. It was established with the support of Technical Cooperation funds provided by the EBRD's own resources and the Taiwan Business-EBRD Cooperation Fund.

MSMEs form the backbone of the Croatian economy and taking steps to ensure they have access to finance is crucial for the sector to return to growth. It is therefore a sector important to PBZ, Croatia's second largest financial group and a long-standing EBRD partner.

Vedrana Jelušić Kašić, EBRD Director for Croatia, said: 'This loan is another fine example of the successful relationship between the EBRD and PBZ. Promoting women in business is not only the right thing to do, it, also makes sense economically. A flourishing economy is one which allows everyone to participate.'

Ivan Gerovac, Member of the Management Board of Privredna banka Zagreb d.d., added: 'PBZ is highly committed to supporting women entrepreneurs, and we hope that new tailor-made product financed from EBRD loan will enhance women-led businesses access to finance. We are pleased to cooperate with EBRD again, successfully as for many years before.'

The EBRD has been active in Croatia as an investor since the country's independence and has invested some € 3.2 billion in 182 projects to date. The Bank's activities cover all areas of the economy but are especially strong in the infrastructure, corporate, financial institutions and energy sectors.

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The EBRD, owned by 64 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from central Europe to central Asia. Follow us on the web, Facebook and Twitter .

Privredna Banka Zagreb d.d. (PBZ) member of Intesa Sanpaolo Group is the second largest banking group in Croatia, with more than 1.6 million clients and the most extensive branch network with around 200 branches. On top of core banking services the PBZ Group offers a diverse range of specialized services including leasing, credit card services, real estate business and fund management. www.pbz.hr