Croatia to get EIB guidance on promoting capital markets and business innovation

This article is published in association with European Investment Bank.

• EIB to support Croatia in deepening its capital market in alignment with the EU’s Capital Markets Union (CMU)
• New advisory accord with Finance Ministry aims for “Fintech Hub”  
• Separate deal with Croatian investment-promotion agency to aid business financing

The European Investment Bank (EIB) will offer policy guidance to Croatia on becoming a regional hub for financial technologies and capital markets. Under a new advisory agreement with Croatia’s Ministry of Finance, the EIB will support plans to turn the country into a fintech leader. In a parallel move, the EIB plans to advise Croatian Agency for SMEs, Innovation and Investments HAMAG-BICRO on helping small and medium-sized enterprises (SMEs) as well as startups enhance their investment readiness and gain access to early-stage finance. The advisory support is funded by the InvestEU Advisory Hub programme.

“With the rapid evolution of technology and the growing importance of deep capital markets, Croatia has a unique opportunity to position itself as a regional leader in the innovation ecosystem,” said EIB Vice-President Teresa Czerwińska. “Through these two partnerships, we are committed to supporting the country’s economic growth and competitiveness.”

The goal of the EIB accord with the Finance Ministry is to help establish a “Fintech Hub” to act as a catalyst for innovation in this field. It will serve startups as well as established businesses and ensure alignment with evolving European Union regulations and global market trends.

As part of the pact, the EIB will map the current fintech system in Croatia, benchmark leading hubs in Europe and provide recommendations on legal and operational issues. This will help drive the adoption of advanced financial technologies in Croatia and strengthen its role on the European fintech stage.

The EIB will also carry out a study on ways to deepen capital markets in Croatia, identifying opportunities to bolster the investment environment. The study, meant to support the country’s new “Strategy on Capital Market Development 2025-2030”, will benchmark Croatia against innovative small and established large capital markets in an effort to position Croatia as a regional hub for initial public offerings in central and eastern Europe, leading the way towards the CMU.

“Through collaboration with the European Investment Bank, we will continue investing efforts in order to accelerate the development of the fintech industry and capital market. This will ultimately improve access to capital for fintech entrepreneurs, startups, and the wider business community,” said Deputy Prime Minister and Minister of Finance Marko Primorac. “Today’s partnership marks a significant step forward in positioning Croatia as a regional hub for fintech and further strengthening our capital market. By fostering fintech development and expanding capital market opportunities, we enhance Croatia’s standing both domestically and internationally. I extend my gratitude to the European Investment Bank for their cooperation and am confident that this initiative will contribute to Croatia’s long-term economic growth,” the Deputy Prime Minister added.

In its partnership with HAMAG-BICRO, the EIB will enhance the country’s innovation ecosystem through training programmes for SMEs and startups covering issues such as business strategy, financial planning and investor engagement. The goals include helping Croatian businesses tap EU funding, including the European Innovation Council Accelerator. Envisaged cross-border mentorship and corporate partnership programmes will facilitate knowledge-sharing to support start-ups in scaling their technologies and accessing broader markets.

Vjeran Vrbanec, HAMAG-BICRO Management Board President said: ‘’The increasingly complex conditions of a demanding market require a very high level of readiness from our entrepreneurs – both in terms of project preparation and investment – which can be achieved much faster with quality support from those who understand economic and technological trends. At our agency, our priority is to continuously provide services that make the portfolios of our companies more innovative, competitive and sustainable. In this regard, this partnership with the EIB, in the form of an investment hub for entrepreneurs, will contribute significantly to improving the quality of their knowledge structure, which can then be used in the process of applying for European Union funding.’’

Background information  

EIB 

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

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InvestEU: The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.