ZABA, HAMAG-BICRO and Tourism Ministry ink deal to support tourism sector

Zagrebačka Banka (ZABA) will approve loans to pandemic-affected enterprises in the tourism sector to help them save jobs and facilitate doing business and speedy recovery, ZABA said after signing an agreement with the HAMAG-BICRO agency and the Ministry of Tourism on Wednesday.

The agreement regulates business cooperation in the implementation of the state aid schemes for the tourism and sports sector in the current covid-19 pandemic. It will enable new loans at ZABA to micro, small and medium-sized enterprises.

The scheme is earmarked for entrepreneurs in the tourism and sports sectors and in the associated activities performed by hotels, resorts, camps and other accommodation facilities, restaurants and other premises where food and beverages are prepared and served.

Travel agencies, tour operators, nautical charter operators, sport venues, fitness centres and other sport facilities, including gyms, entertainment and thematic parks and other entertainment and recreational facilities will also be eligible to apply for the loans.

"Support to entrepreneurs will be in the form of state guarantees that will cover 100% of the loan principal to finance liquidity and with a maturity ranging between one and six years and all companies that have experienced tight cash flow and business losses caused by the pandemic or their business activity has decreased or stopped completely will be eligible," sad ZABA. 

Following an inquiry from Hina, the HAMAG-BICRO Croatian Agency for SMEs, Innovations and Investments said that it had been in contact with other banks with a similar offer with regard to state guarantees and that it expected them to respond too.

(Hina/FaH)

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