HBOR okays HRK 150-million loan to 3.Maj to renew production

The Croatian Bank for Reconstruction and Development (HBOR) supervisory board on Monday issued a conditional approval for lending 150 million kuna to the Rijeka-based 3. Maj shipyard, which will be necessary for the dock's cash flow.

The news about the approval of the loan was broken by Economy Minister Darko Horvat.

The Supervisory Board of HBOR consists of ten members: six ministers of the Croatian government, three members of the parliament and the chairman of the Croatian Chamber of Economy.

Horvat welcomed as good news the fact that more than 90% of the creditors of the Rijeka-based had accepted the deal whereby they accede to the terms of the agreement on the delay of 85% of their dues for a period of 2 years while the remaining 15% would be paid to creditors from a new loan to the shipyard.

Text: Hina

News | Darko Horvat