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IFC Investments in Croatia (selected)


Year
Project
Project
Cost*
(million USD)
IFC
Financing*
(million USD)
Project
Description
2008PIK - Vrbovec
146.7
62.7
To help increase the company's production capacity and finance the working capital and other intangible investments needed to support their growth
2007ALH
246.3
52.6
To strengthening the Company by recapitalization its balance sheet and refinancing existing debt as well as funding future capital expenditure programs
2006Agrokor
107.0
51.0
to finance post acquisition investments in two of Agrokor's subsidiaries PIK Vrbovec and Belje, both involved in meat production and processing
2005PBZ Croatia
99.4
To strengthen Privredna banka Zagreb's balance sheet and to enable it to expand long-term lending to corporates and in the mortgage market.
2005Lidl Croatia
184.0
48.6
Establishment of 15 discount stores in Croatia by Lidl Croatia, a whole owned subsidiary of the Lidl Group, part of the Schwarz Group.
2004Euromedic
25.8
12.6
Regional project. Euromedic Group will expand its network of diagnostic and dialysis centers in Bosnia, Hungary, Poland, and Romania, and establish operations elsewhere in the region.
2004Poteza
75.0
13.7
Regional project. Poteza Adriatic Fund B.V. will make equity and equity-related investments, through majority or significant minority stakes, in companies in the region.
2004RIB-CSE
1,600.0
120.8
Regional project. Raiffeisen International Bank-Holding AG will promote lending to small and medium enterprises in Southern Europe.
1999/2002E&S Bank
42.0
36.4
Long-term credit line to support housing finance and SME on-lending for trade finance, and the purchase of equipment for modernization and expansion purposes.
1998/2002Belisce
84.1
29.7
Rebuilding and modernization of a war-damaged paper and packaging manufacturing facility and bringing it into environmental compliance, broadening the company’s product range, and reducing operating costs.
2002Croatia Banka
19.7
8.4
Croatia Banka is a medium-sized bank which primarily works with SMEs and will use the IFC loan for on-lending to its SME clients.
2000Pliva
113.0
35.0
Loan to support the growth and strategic development of Pliva, the leading pharmaceutical company in Central and Southern Europe (CSE).
2000Viktor Lenac
63.3
12.1
Loan and equity to enable Croatia's only privately owned ship repair and conversion facility, the biggest on the Adriatic Sea, to modernize and increase its ship-handling capacity and productivity and compete for more varied and larger projects.

* Project cost and IFC financing refer to amounts approved by the IFC's Board.