
Croatia will set up first venture capital fund after signing a loan contract for an innovation and enterprise capital project with World Bank on Wednesday.
The amount of 150 million kuna (21.9 million U.S. dollars) loan would be used to found a venture capital fund which aimed at financing for small and medium sized enterprises and strengthening competitiveness of the private sector, according to Croatian Entrepreneurship and Trade Minister Gordan Maras.
The fund is expected to make about 20 investments and the maximum investment is 10 percent of the fund's value, he added.
Carlos Pinerua, head of the World Bank's Croatia office, who signed the agreement with Croatian Finance Minister Boris Lalovac, said encouraging enterprises capable of creating new products was the key to step up economic growth in Croatia.
The loan is ten years with four years' grace, according to the agreement.
GMT 15:13 2018 Saturday ,20 January
US 'erred' in supporting WTO membership for China, RussiaGMT 17:22 2018 Thursday ,18 January
US industrial output in 2017 posts biggest gain since 2010GMT 17:12 2018 Thursday ,18 January
No more bonuses for Carillion bosses after UK collapseGMT 17:20 2018 Wednesday ,17 January
EU to remove Panama, South Korea from tax haven blacklistGMT 17:16 2018 Wednesday ,17 January
Citigroup reports steep Q4 losses tied to US tax reformGMT 17:11 2018 Wednesday ,17 January
Pressure rises on British govt over Carillion collapseGMT 17:52 2018 Monday ,15 January
Iran jetliner deal could take longer to complete, Airbus saysGMT 17:44 2018 Monday ,15 January
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor