IFC is implementing or has completed the following projects:
Current Projects
Feasibility Analysis for the Establishment of a Primary Housing Finance Institution
Pre-Development Strategy for the Constanza-Pancevo-Omisalj-Trieste (CPOT) Pipeline in Croatia, Romania and Serbia, Phases 1 & 2
Completed Projects
Factoring Study
Feasibility Study for Viktor Lenac Shipyard
Current Projects
Feasibility Analysis for the Establishment of a Primary Housing Finance Institution
2003 – current
With funding from the Government of Spain
Increased access to housing finance helps to reduce poverty because it provides marketable collateral for home owners and leads to improved living conditions. A key strategy in IFC’s approach to housing sector growth is the establishment of primary and secondary housing finance institutions.
This program is documenting demand and identifying gaps in current housing finance systems in Croatia, as well as in Bosnia, Kosovo, Macedonia and Serbia. It will then use the data to create action plans for improving the affordability and availability of housing funds for middle and lower income households and, where feasible, generate business viability plans for primary mortgage finance companies in each study country.
The study will identify operational, legal and regulatory obstacles and will propose solutions for overcoming them. These improvements to the business environment are necessary before private home ownership can become a reality for lower and middle income households.
Pre-Development Strategy for the Constanza-Pancevo-Omisalj-Trieste (CPOT) Pipeline in Croatia, Romania and Serbia, Phases 1 & 2
2003 - Current
Funded by the Government of Italy , $421,000
This program will help to prepare for the development of the CPOT oil pipeline, a regional initiative developed in response to the need for crude oil export routes from the Caspian region to European markets that bypass the environmentally sensitive Bosphorous straits. The project will clarify the economic and commercial viability of the pipeline by testing its capacity to attract interest from private investors. It will also provide expertise to the governments of Croatia, Romania and Serbia on the best economic, commercial, political and technical options to pursue. This initiative is the first regional integration effort in Southeast Europe energy infrastructure to be carried out through public-private partnerships.
Completed Projects
Factoring Study
2000/2001
With funding from the Government of Austria
When a successful Austrian factoring company asked IFC for help to develop a factoring company in Croatia, IFC stepped in to help the Croatian government identify regulatory issues that would inhibit the growth of this industry and also to draft necessary amendments to existing legislation in order to overcome them. Findings were presented to the Croatian Ministry of Finance and the National Bank of Croatia, and the Bank issued a regulatory decree reducing the starting capital requirements for factoring from $10.5 million to $2 million, putting factoring entities in Croatia on more even footing with factoring companies internationally. A second decree enabled other financial institutions in Croatia such as leasing companies to establish factoring arms.
Feasibility Study for Viktor Lenac Shipyard
2002-2003
With funding from the IFC TA Fund
The privatization of state-owned enterprises is an integral part of IFC’s role in spurring private sector growth in Croatia, so when the management of Viktor Lenac Shipyard asked for assistance with pre-privatization restructuring, IFC’s advisory program produced technical and marketing strategies for modernization, and also identified potential investors. Viktor Lenac is now Croatia’s only major shipyard that is privately held, and it continues to have demonstration value for the rest of the industry.
