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European Investment Bank and Croatia Strengthen Partnership on Climate and Sustainability Projects

Strategic Insights

— 1 min read

The European Investment Bank and the Croatian Ministry of Economy and Sustainable Development have agreed to expand cooperation on key energy, sustainability, and climate-related projects in the country. The partnership aims to develop joint operations in areas such as renewable electricity generation, clean energy and energy efficiency measures, green mobility, and the transition to a circular economy. The EIB will step up its support to the Croatian Ministry and back key energy and climate initiatives, including the National Energy and Climate Plan. This agreement will enable Croatia to maximize opportunities from EU programs, funds, and initiatives and attract more finance for key operations, helping the Croatian economy recover from the COVID-19 pandemic and devastating earthquakes.

Key Takeaways:

  • The European Investment Bank and the Croatian Ministry of Economy and Sustainable Development have agreed to expand cooperation on key energy, sustainability, and climate-related projects in Croatia.
  • The partnership will develop joint operations in areas such as renewable electricity generation, clean energy and energy efficiency measures, green mobility, and the transition to a circular economy.
  • The EIB will step up its support to the Croatian Ministry and back key energy and climate initiatives, including the National Energy and Climate Plan.
  • The agreement will enable Croatia to maximize opportunities from EU programs, funds, and initiatives, including the InvestEU, the Green Deal Investment Plan, and the Just Transition Fund.
  • The EIB will increase its support for the Croatian economy's transition to a circular economy.
  • The Memorandum of Understanding outlines the support the EIB will extend to the Ministry of Economy and Sustainable Development in implementing the National Energy and Climate Plan and the Recovery and Resilience Plan.
  • The agreement will contribute to Croatia's and the European Union's energy and climate goals.

Statistics:

  • The EIB will invest €1 trillion in climate action by 2030.
  • In 2020, the share of EIB investments that went towards climate action and environmental sustainability projects rose from 34% to 40%.
  • The EIB has supported the economic and social development of Croatia by investing €6.71 billion in operations covering transport, the environment, energy infrastructure, manufacturing, and services.
  • The EIB has supported Croatian SMEs by unlocking new sources of finance worth close to €3.75 billion.

Sources:

  • European Investment Bank, "EIB and Croatia sign memorandum of understanding on key energy, sustainability and climate projects" (January 28, 2021)
  • European Investment Bank, "Climate Bank Roadmap" (approved by the EIB Board in November 2020)

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