Croatian Bank for Reconstruction and Development (HBOR)

Croatian Bank for Reconstruction and Development (HBOR) was established on 12th June 1992 by the Act on the Croatian Credit Bank for Reconstruction (Hrvatska kreditna banka za obnovu – HKBO) (NN – official gazette of the Republic of Croatia, No. 33/92, amended NN 76/93, 108/95, 08/96). In December 1995, the Bank was renamed Hrvatska banka za obnovu i razvitak (Croatian Bank for Reconstruction and Development). In December 2006, the new Act on the Croatian Bank for Reconstruction and Development was passed (NN 138/06) and in March 2013, the Act on Changes and Amendments to the Act on Croatian Bank for Reconstruction and Development (the Official Gazette of the Republic of Croatia, No. 25/13) came into force. The change of the Act relates to the number of members of the HBOR Supervisory Board.   MAIN ROLE Within the Croatian banking system, HBOR plays the role of a development and export bank established with the objective of financing the reconstruction and development of the Croatian economy.   MAIN ACTIVITIES OF HBOR financing the reconstruction and development of Croatian economy financing infrastructure promoting exports supporting the development of small and medium-sized enterprises promoting environmental protection insuring the exports of Croatian goods and services from non-marketable risks   OWNERSHIP HBOR was founded and is entirely owned by the Republic of Croatia.   FOUNDER’S CAPITAL The Founder’s capital was prescribed by the Law in the amount of HRK 7 billion, the payment schedule of which is determined by the Government of the Republic of Croatia.   CREDIT RATING HBOR is rated by the following international rating agencies: Moody’s Investors Service (Ba2) and Standard & Poor’s (BB+).