The EBRD is providing UniCredit Leasing Croatia with a €20 million loan for the expansion of leasing finance especially to micro, small and medium-sized enterprises (MSMEs). The availability of additional funds is expected to strengthen the growth of Croatia’s economy.

Leasing is the second most widely used financing instrument following bank loans in Croatia. However, the leasing sector is still small in size compared with the banking sector. The economic recovery and GDP growth in Croatia had a positive impact on the leasing sector which started showing first signs of growth in 2016 and continued an upward trend in 2017.

Vedrana Jelušić Kašić, EBRD Regional Director, Croatia, Hungary, Slovak Republic and Slovenia, said: “Under conditions where many small and medium-sized enterprises only have limited access to traditional finance, leasing represents an attractive and valuable alternative. We are pleased to cooperate with UniCredit Leasing Croatia to strengthen the role of leasing in the private sector. Better access to funds will encourage entrepreneurial activity which in turn will support the country’s continuing growth.”