There are a number of possibilities to finance projects by grants from the European Union funds. However, to receive an approved EU grant, the project first needs to be implemented, i.e. all of its relevant activities need to be paid. Therefore, a bank loan must usually also be obtained in addition to the EU funds. You have at your disposal three types of loans for financing EU projects:
Investment loans enable you to finance investments in the modernisation and/or expansion of your operations, diversification of your branch and manufacturing plants, business and warehouse premises, land, fleet, vessels and other fixed assets.
Commercial investment loan for farmers and food processors for financing land, buildings and/or business facilities, equipment and machinery, perennial crops or nucleus herds.
Erste Bank also offers HBOR program EU projects.
Some calls for proposals require proof of financing in the application phase. In such a case, a letter of intent or an equivalent document is issued.
If a call for proposals provides for an advance payment of the grant, to use this advance payment, you will need a bank guarantee.
To enable easier tracking of payments within your EU project, we can offer you a dedicated project account. Croatian Execution Act provides for exemption from execution on this account pursuant its Art. 172.16. For this option to be activated it is only necessary to state this legal ground when opening the account.
If you need advice about the optimal way to combine funds from grants and loans, our bankers and the Erste Trade Finance and EU Desk Team are at your disposal.
All of above services have been included in the Erste Package for EU Projects. We can also provide tailor-made solutions for possible requirements of a specific call for proposal.
European response to the crisis caused by the COVID pandemic is financed with additional funds through the Next Generation EU mechanism.
Different operational programs of European Structural and Investment Funds (ESIF) are available in Croatia for financing the following areas:
The European Union encourages cooperation between Member States in EU's priority policy areas through the so-called Union Programmes that are implemented directly from Brussels. They mostly require several partners from at least 3 Member States. Some programmes of interest for entrepreneurs: