EIF and Erste Bank Croatia to unlock up to €58 million in new financing for Croatian SMEs

This article is published in association with European Investment Bank.

• EIF and Erste Bank Croatia to unlock up to €58 million in new financing for SMEs
   
• Cooperation introduces mini-bonds as an alternative financing tool for SMEs in Croatia
   
• EIF will extend guarantees to Erste Bank Croatia under the InvestEU Programme

The European Investment Fund (EIF), part of the EIB Group and specialised in supporting small and medium‑sized enterprises (SMEs), and Erste & Steiermärkische Bank d.d. (Erste Bank Croatia) have agreed to unlock up to €58 million in new financing for Croatian SMEs.

Under the agreement signed today in Zagreb, the EIF will expand existing guarantees to Erste by €29 million.The EIF operation under the InvestEU Programme enables Erste Bank Croatia to introduce mini‑bonds as an alternative financing tool for Croatian SMEs.

Expanding the product offer with mini‑bonds will allow Erste bank Croatia to support more entrepreneurs and unlock new investments, growth and job opportunities for citizens. ”

– Marko Primorac, EIB Vice-President in charge of operations in Croatia

“Today we are strengthening both Croatia’s SMEs and Croatian financial sector so they can continue to fuel sustainable economic growth, innovation and regional development. Expanding the product offer with mini‑bonds will allow Erste bank Croatia to support more entrepreneurs and unlock new investments, growth and job opportunities for citizens,” said Marko Primorac, EIB Vice-President in charge of operations in Croatia.

“During the ten‑year strong partnership with the EIF, a number of guarantee instruments have been introduced that helped bring many successful projects to life. Our cooperation with the EIF has now enabled us to offer Croatian entrepreneurs an alternative financing option – mini‑bonds. For many of our clients, mini‑bonds will be a natural step toward more sophisticated financing solutions, especially for companies that are growing, investing in innovation, and preparing for future activities on the capital markets. We are pleased that this product further strengthens the small and medium‑sized enterprises segment, which is crucial for the stability and competitiveness of the Croatian economy”, said Christoph Schoefboeck, President of the Management Board of Erste Bank Croatia.

Introduction of mini bonds on Croatian banking market, spearheaded by the EIF, allows companies to diversify their funding beyond traditional bank loans. Mini bonds also allow businesses, especially growing, innovative, or higher‑risk firms to raise financing directly from the market in a simpler, lighter‑regulation format than standard corporate bonds.

For companies, mini‑bonds provide significant benefits, including expanded access to capital, greater flexibility in structuring financing, and the possibility to fund investment without diluting ownership.

This enhanced cooperation will improve access to finance for SMEs that exceed standard banking options.

The introduction of mini‑bonds at Erste Bank Croatia broadens Croatia’s financial ecosystem, increases liquidity options for entrepreneurs, and enables businesses to pursue expansion, innovation and competitiveness through new, market‑based financing solutions.

Supporting Croatia’s growing SME ecosystem

EIB Group support remains central to strengthening Croatian SMEs, which represent the backbone of the national economy and a major source of employment.

In 2025, the EIB Group delivered €536 million in new financing to Croatia, more than half of which supported SMEs and Mid‑Caps, backing investments in green transition, digitalisation and business expansion.

Background information

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, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

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. 

High-quality, up-to-date photos of our headquarters for media use are available here.

Erste Bank Croatia

Erste&Steiermarkische Bank d.d. originates from the former large regional banks — Riječka banka, Bjelovarska banka, Trgovačka banka and Čakovečka banka — and has been operating under this name since 1 August 2003. Today it is a modern bank, ranked third on the Croatian market by total assets, and is part of the international Erste Group, one of the leading financial service providers in Central and Eastern Europe (CEE).

What makes Erste Bank different is its employees, their approach to work, innovation, and care for clients. The Bank has been posting great business results for many years, continuously investing in digital development that facilitates innovation and creativity in customer service. By supporting people’s financial needs and financing sound and profitable projects implemented by entrepreneurs and companies contributing to employment growth in the real sector, the Bank adequately supports the development of the economy as a whole.