Croatia Export Financing Guarantee Operation

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The development objective of the Export Financing Guarantee Project for Croatia is to support exporters and foreign exchange earners in Croatia by enhancing Croatian Bank for Reconstruction and Development's (HBOR's) capability to mobilize medium and long-term financing. The project will have a single component which will provide medium- and long-term funding to support the private sector. This component will use the funds raised with the support of the guarantee for on-lending to private sector exporters and foreign currency earners, based on specific eligibility criteria. Companies supported under the project would need to have revenues in foreign currency to mitigate any currency risk. Typical beneficiaries will be closely matched to the universe funded under the original Croatia Export Finance Intermediation Loan (CEFIL) and represent a large subset of the Croatian private sector, such as manufacturing, tourism and food processing.