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Croatian gov't adopts HRK 1.5 bln aid program for tourism and sports

Tourism

The Croatian government on Thursday adopted an HRK 1.5 billion (EUR 200 million) aid program for the tourism and sports sectors to help alleviate the impact of the coronavirus crisis, local media reported, according to news agency HINA.

The program was approved by the European Commission on January 11, based on the Temporary Framework for State Aid and its main objective is to ensure access to liquidity for the heavily affected tourism and sports sectors and to preserve their economic activity, Tourism and Sport Minister Nikolina Brnjac told a cabinet meeting.

Of the HRK 1.5 billion, HRK 1 billion is intended for state guarantees to micro, small and medium (MSMEs) companies which will be provided through the HAMAG-BICRO agency, while the remaining HRK 500,000 will be provided by the Croatian Bank for Reconstruction and Development (HBOR) in state guarantees to large companies. The Ministry of Tourism and Sport will implement the program in cooperation with the HBOR, HAMAG-BICRO and commercial banks, which will grant loans. 

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