€411M Croatian Capital Injection Approved for Development Bank HBOR

Mon, 20 Apr 2026 14:56:50 +0000
Antitrust & Competition

The European Commission has approved under EU State aid rules a €411 million capital injection by Croatia into its national development bank Hrvatska Banka za Obnovu i Razvitak (HBOR). The measure, funded through the Recovery and Resilience Facility, will expand HBOR's remit to support SMEs, renewable energy projects and infrastructure development. Croatia committed to limiting HBOR's financial activities to relevant market failures and implementing no crowding-out measures to ensure the development bank does not undercut private financial institutions active in the Croatian market.