devinitorg/iati-policy-markers huggingface dataset:
Zagreb Airpor The Project proposes to support an expansion of capacity at Zagreb Airport (ZAG) by (i) building and operating a new passenger terminal and related infrastructure at Zagreb Airport and (ii) refurbishing as per the Concessionaires intent, operating and maintaining the existing facilities at ZAG on a 30-year concession basis (the Project). - The Project would create a new modern and efficient airport terminal in country''s capital city which is also the business and cultural centre of Croatia. Economic growth and development of tourism industry, a major driver of Croatia''s GDP and employment, would benefit from the Project.  - It is viewed as a flagship project in the country with a major strategic importance for both the transport infrastructure and the PPP-type funding  - IFC''s involvement in the Project will ensure it meets international safety and E&S standards.
Croatia Banka Pre-Privatization Loan CB is a medium sized Croatian bank and most of its clients are local private small and medium sized enterprises (SMEs).  It is one of the few banks in Croatia which has a countrywide branch network.  IFC''s  loan will provide the bank with long-term funding, which CB needs to on-lend to SMEs prior to the privatization and to maintain its market share.  SMEs are key to Croatias continued economic growth, yet their potential is not being realized due to scarcity of funding.  This funding gap is still acute at present due to the shortage of alternative sources, such as leasing or factoring; and the preference of many banks for larger borrowers.  CB is one of the few banks actively providing term finance in this sector, yet faces market demand in excess of its current funding resources.  Further, CBs lending activities extend to the regions, where access to financing is more limited than in Zagreb.      The investment will make the bank more attractive to a potential strategic investor and improve the chances for successful  privatization.  With committed strategic partners and strong local management, CB would be well-positioned to become a leading provider of term finance.  IFCs provision of additional term funding would extend the maturity of, further stabilize, and diversify CBs funding base; while the associated financial covenants would help ensure the Bank maintains appropriate portfolio diversification and a prudent risk profile during their further expansion.  This will improve CBs market position and institutional strength.
Sibenik WPP The proposed investment involves financing a greenfield wind power plant totaling 43.7 MW near the City of Sibenik in Croatia.   Sibenik WPP is wholly-owned by RP Global Danilo d.o.o, a limited liability Company incorporated under Croatian Law. Construction is expected to commence in the second half of 2012 and commercial operations are expected to begin by the end of 2013. Development impact includes: (i) increasing Croatia''s wind energy capacity by 43.7MW, from the current level of 124 MW, a significant 35% increase; (ii) associated displacement of carbon from the country''s substantial thermal generation plants, reduction of pollution and contribution to the effort to combat global warming; Average annual GHG avoided is estimated on 33,000 tCO2 while total GHG avoided is estimated on 660,000 tCO2; (iv) demonstration effect, given it is one of the largest wind power projects in the country to date; and (v) reducing Croatia''s significant energy imports.
Belisce Expansion Belisce is the dominant packaging paper and packaging material producer in Croatia.  Thanks to a long tradition in the wood industry and its proven management capabilities, Belisce has consistently performed well and is a key employer and source of revenue in the Croatian region.  The project is to support the corporate expansion and modernization program of Belisce which aims at making the company a leading producer of packaging paper and materials in the Balkan region.  Belisce is already a major player in its home market - Croatia - and in the countries of the former Yugoslavia.  Most of the modernization of Belisce''s own facilities has already been completed with IFC financing during 1997-98.  The proposed project will consist of the following components: (i) further modernizing of Belisce''s internal facilities; (ii) acquiring and modernizing of Valkarton, a Slovenian corrugated box producer with a subsidiary in FYR Macedonia; and (iii) restructuring of existing debt.        The proposed investment will have a strong developmental impact as it will: (i) support the development of a locally managed company; (ii) ensure that the most significant employer in the town of Belisce will become a regionally competitive company; (iii) reduce Belisce''s dependence on the domestic market; and (iv) assist the company in the restructuring of its expensive debts and their rescheduling, lending further support to the strategic reorganization and long-term viability of a leading Croatian company.  Belisce is the largest employer in the Slavonia County (east Croatia), which is one of the war-devastated regions in Croatia.  It plays an active role in the local community through corporate sponsorships of cultural and athletic facilities and bodies.  The proposed transaction will help the company to maintain market leadership in Croatia and grow further within the South European region.
Pliva Project The project supports the growth and strategic development of Pliva, the leading pharmaceutical company in Central and Eastern Europe, and the only one that  has produced a blockbuster drug through its original research.  Plivas strategy for the future is to continue to build on its existing R&D expertise by focusing on both original research, and generic drug development.     IFC investment will support the construction and outfitting of a new 25,000 square meter Research and Development facility.  Currently, the company''s R&D is conducted in three different locations and suffers from space limitations.  Consolidation of R&D activities in one state of the art facility will increase efficiency and multi-disciplinary interaction.  The layout and infrastructure of the new facility will ensure that all Pliva''s R&D activities will be performed in compliance with international quality requirements, or "Good Laboratory Practice" (GLP).  About 55% of the facility will be dedicated to new product development and 45% of the facility will be dedicated to original research.  The department for new product registration will also be located in the new facility.  The investment will also result in  a significant improvement in the working conditions of the scientists by increasing laboratory space per scientist to international standards. Pliva''s new R&D facility will employ about 500 people.     The project is expected to have a broader positive impact on Croatian society through providing local scientists employment opportunities in their own country, helping to curb the high level of "brain drain" to employment opportunities outside of Croatia.  Despite Pliva''s impressive financial performance, to date, the perceived country and macroeconomic risks have made it difficult for the Company to secure adequate long term financing at a reasonable cost.  The World Bank Group''s priorities in Croatia have been to encourage private sector development and to support this process through rehabilitating the country''s industrial asset base and environmental standards. Finally, this project is compatible with IFC''s mission of attracting foreign investment and assisting through financing and advisory work with the restructuring and privatisation of formerly socially-owned enterprises.
CMC Sisak Project The proposed Euro160 million project consists of:   - financing the acquisition of the state owned steel mill,  - refinancing the debt assumed before privatization  - funding new investments necessary for CMC Sisak d.o.o (CMCS, the company, or the borrower) turnaround and  - funding the working capital requirement.  CMC plans to implement modernization and expansion investments to improve CMCS operational efficiency and competitiveness to bring the company in line with international standards.  The investment program aims to:   - reduce manufacturing costs,  - improve product mix and quality, and  - reduce emissions.    It involves:   - the construction of a new state-of-the art Electric Arc Furnace;  - the installation of a Ladle Furnace (LF);  - the modernization of the existing Continuous Billet Caster (CC), together with the installation of new Ladles and Tundishes; and  - the installation of a fabric filter Bag House and Melt Shop sheeting. The proposed project is expected to have a positive development impact in several areas:  - Promoting the privatization of non-performing SOE:   The privatization of the previously state owned steel firm is expected to enhance its production efficiency and competitiveness and help regain its local industry leader status. The implementation of state-of-art technology will transform it into a competitive manufacturer; facilitate efficient use of energy and raw materials and help raise productivity levels in the country.   - Supporting the modernization of the sector:  CMC will transfer management expertise, technological know-how, advanced marketing methods, and a proven quality control system to Croatia and help support the modernization of the sector.    - Strengthen supply chains:    Increased purchases of domestic raw materials (scrap) will expand opportunities for upstream suppliers, while increased local production of high quality steel pipes will provide the necessary inputs for the infrastructure sectors.   - Improved environmental standards:   Replacement of the existing obsolete EAF with a state-of-the-art unit will substantially reduce primary and secondary particles and flu gas emissions during EAF charging, melting and tapping phases.  The use of waste energy for scrap preheating and other features of the new unit will allow a 20% reduction in energy consumption per tonne of liquid steel. The major environmentally-dedicated project is the construction of a new Bag House with sufficient capacity to meet the needs of the Electric Arc Furnace, the Ladle Furnace and the Continuous Caster.  Sheeting of the Steel Shop will ensure secondary emissions (from EAF and LF) and emissions (from CC) are kept within the Steel Shop building. CMCS are also considering further protection against EAF secondary off gases emissions by constructing a canopy hood. Investment in environment protection amounts to USD 15 million (25% of the CAPEX).
Croatia Capital Partnership L.P. Summary Of Project Information (SPI)       Project Name    Croatia-Croatia Capital Partnership L.P.              Region    Central and Southern Europe        Sector       Project No009100   Projected Board DateJuly 17, 1998   Company NameCroatia Capital Partnership L.P.   Technical Partner and/or Major Shareholders    	The General Partner and Manager for Croatia Capital Partnership L.P. ("CCP" or "the Fund") is CCP Ventures Ltd., an investment management company incorporated in Jersey.  The Fund currently has capital commitments from Zagrebacka Banka (the largest private bank in Croatia), EBRD, and CCP Capital Ltd. (a special purpose vehicle set up by the General Partner).      	Advent International Corporation ("Advent") will invest in the Fund and will take an active role in the governance of the Fund.  Advent is a leading Boston-based private equity and venture capital investment management company with about US$2 billion under management.    Project Cost Including proposed IFC investment    	CCP has a target capital size of US$25-30 million and IFC''s equity investment is expected to be up to US$5 million, for up to 20% of the capital of CCP.      Location of project and Description of site    	CCP will make equity and equity-related investments in Croatia.    Description of Company and Purpose of Project    	CCP is a private equity fund which will make equity and equity-related investments in small- and medium-sized enterprises (SMEs) in Croatia.  IFC has a strong role to play in the success of this project. Although Croatia received an investment grade rating from Standard & Poor''s in 1996, most smaller enterprises still do not have easy access to equity or long-term debt financing.  Hence, this investment provides IFC the opportunity to provide equity finance to a range of SMEs in an environment where sources of long-term financing are scarce.    	IFCs investment in the Fund will be catalytic in attracting more foreign investors into the Fund and, on a wider scale, provide confidence to foreign direct investors.    Environmental Category and Issues    	This is a Financial Intermediary (FI) category project according to IFC''s environmental review procedure.  The Fund will be required to undertake an environmental review of eligible investee companies operations.  In addition, IFC will assess the Funds capability to carry out environmental reviews of each investee company.       Date SPI sent to PIC     June 15, 1998      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384
PBZ Privredna Banka Zagreb Privredna banka Zagreb (PBZ) is Croatias second largest commercial bank.  PBZ used to be a state-owned bank and was privatized in 2000 when Gruppo Intesa of Italy acquired a controlling stake of  66.3%.  Subsequently, in the second round of privatization in 2002, Gruppo Intesa increased its stake to 76.3% and the European Bank for Reconstruction and Development (EBRD) acquired an equity stake of 20.79%.  PBZ is a full-fledged commercial bank and offers the full range of banking products to corporate and retail customers in Croatia.  The proposed project aims to provide a long term loan facility to PBZ to enable it to enhance long term lending to its customers, particularly to retail mortgage customers and small enterprises.
DCM-CRO-MREL Sustainability Bond-Raiffeisen Croatia The proposed project is to invest up to USD150 million (in EUR equivalent) in Minimum Requirement for Own Funds and Eligible Liabilities (MREL) eligible senior preferred (SP) bonds to be issued by Raiffeisenbank Austria d.d. (RBA or the Bank).       RBAs bond will be issued as part of its Sustainability Bond Framework, developed by RBA in June 2022, and aligned with the International Capital Market Association (ICMA) Sustainability Bond Guidelines (SBG, includes both Social Bond and Green Bond Guidelines), with use of proceeds earmarked for social projects as well as climate finance, including green buildings, energy efficiency, renewable energy, blue finance, and clean transport. The project is expected to:
i) contribute to increasing access to financing for eligible climate and social projects in Croatia
ii) contribute to greater market resilience by enhancing the capitalization of systemically important banks toward compliance with regulatory requirements under the European Commission's bank recovery and resolution directive 2019/879/EU (BRRD 2) by January 2024.
SAME DTZ Croatia SAME DEUTZ FAHR Zetelice d.o.o. is a producer of combine harvesters, located in Zupanja, Croatia.  It was privatized in 2005 when it was acquired by the Italian producer of agricultural machinery, SAME DEUTZ FAHR Group SpA (SDF).  Since the acquisition, SDF revamped the Companys operations by modernizing its machinery and operations, consolidating SDFs European harvest combine production on its site, introducing new products, and making it one of SDFs main logistics centers.  The project consists of introduced leading edge harvesting technology into the Croatian company and gearing it to become a major exporter and distribution center for Europe and the CIS. 1.	Contribution to food security. Based on competitive cost structure, quality, efficient distribution network and service, the projects are expected to increase the availability of tractors and harvest combines in their regions. This, in turn, should help improve the agricultural productivity and thus output, and contribute to food security.  2.	Contribution to rural development: Increased mechanization of the agriculture in the region is expected to lead to higher farmer income as well as development of small businesses that provide spare parts and maintenance/ repair services for the agricultural machinery.  3.	Job preservation in a frontier region.  By supporting the continuation of the Croatian Company''s post-privatization restructuring, IFC''s investment is expected to ensure the preservation of at least 300 jobs at the plant, and help increase indirect employment in the supply chain and distribution network of the SDF group in the region through the Company''s growth.
Zagreb Bond 2023 On 6 July 2023, IFC submitted an offer to subscribe for EUR 72.5 million, equivalent to US$ 78.7 million, as an anchor investor, into a EUR 305 million, 5-year sustainability-linked bond (SLB), issued by Zagrebacki Holding d.o.o. (ZGH, or the Issuer). The issuer has accepted the offer and has allocated the bonds to IFC. The bond issue date is 11 July 2023. The Issuer is a municipal utility holding company, 100% owned by the City of Zagreb, whose subsidiaries provide essential municipal services such as waste disposal and treatment, water supply, and gas distribution. The Bond proceeds will be used to refinance an existing 7-year bond with a bullet maturity date of 15 July 2023. The main Project-level outcome is the improvement in municipal waste management in the city of Zagreb. At the market level, IFC investment in the issuance of the first Sustainability-Linked-Bond (SLB) by a municipal utility in Croatia will contribute to deepen the domestic capital market, encourage additional placement of sustainable finance instruments, and increase integration of infrastructure to capital markets in the Western Balkans through demonstration effects.
SocGenCroa_AGRI The proposed Project involves a EUR50 million Loan to Societe Generale Splitska d.d. Split, Croatia (the SGSB or the Bank) for on-lending to small and medium enterprises (SMEs) and to companies operating within Agri-sector. - Increased Access to Finance: Increased funding for Agri-business and SME, which will significantly contribute to job creation in Croatia. - Supporting Underdeveloped Regions: Through the Bank''s network the Project will allow access to finance to the most underserved regions, helping job creation and poverty reduction. - Improving Environmental and Social Standards: IFC would help the Bank to develop an environmental and social management system ("ESMS") to assess environmental and social risks of its SMEs and agribusiness lending activities. - Positive Market Signal: IFC''s long term debt in times of high global instability and uncertainty, at a time when capital is flowing out of the South Eastern Europe, is expected to provide market comfort and to send a strong signal to foreign investors on IFC''s confidence and support to Croatian banking system and the region.
Rudine WPP Project The proposed investment involves financing a greenfield wind power plant (Rudine WPP) totaling 34.2 MW in Dubrovnik-Neretva County in Croatia, 25 km northwest from Dubrovnik. Rudine WPP is wholy owned by Vjetroelektrana Rudine d.o.o., a limited liability company incorporated under Croatian Law. Construction of the project is expected to commence in the first half of 2014 and commercial operations are expected to begin by the end of 2015. Development impact includes: (i) increasing Croatia''s wind energy capacity by 34.2 MW; (ii) associated displacement of carbon from the country''s substantial thermal generation plants, reduction of pollution and contribution to the effort to combat global warming; (iii) helping Croatia meet EU renewable energy targets; (iv) reducing Croatia''s energy dependance on imports
ALH Project Adriatic Luxury Hotels (ALH or the company), one of the leading tourism companies in Croatia, owns and operates 809 rooms spread across five hotels on the Adriatic coast.  ALH is part of the GS Hotels and Resorts (or GSHR) portfolio of hotel companies has been active in Croatia since 1995.  Its long-term strategy involves positioning itself as a leading player in the luxury tourism segment in Croatia and it plans to achieve this by acquiring and building new properties in key locations. The project involves the restructuring and the development of ALH Group (ALH Group), a group specialized in the development, acquisition and management of hospitality properties in the Region, focusing on, but not limited to, Croatia and other countries of the former Yugoslavia The project will help to re-build the damaged tourism infrastructure, restore tourism numbers and help re-establish tourism as an important source of foreign exchange for Croatia. The business model fits very well with the government strategy with a focus on rebuilding existing assets damaged by the war. The project will benefit from good locations with views of the Adriatic Sea and close proximity to Old Town Dubrovnik.  The project will also establish strong direct and indirect linkages to local and regional economies both in the development phase (construction services, building supplies) and during on-going operations (F&B and other operating supplies).
Jelinak Project The proposed investment involves financing a greenfield wind power plant (Jelinak WPP) totaling 30 MW in the northwest of Splitsko-Dalmatinska region, 5 km from the coastline. Jelinak WPP is wholly-owned by Vjetroelektrana Jelinak d.o.o, a limited liability company incorporated under Croatian Law. Construction of the project took place during the year 2012 and commercial operation of the wind farm started in January 2013. Development impact includes: (i) increasing Croatia''s wind energy capacity by 30MW, from the current level of 180 MW, a 16% increase; (ii) increasing the share of energy from low-carbon sources; (iii) helping Croatia meet EU renewable energy targets in the run-up to accession; and (iv) reducing Croatia''s significant energy dependence.
Erste_CRO_MREL The proposed project is to invest up to EUR75 million (approximately equal to US$90.6 million) in Minimum Requirement for Own Funds and Eligible Liabilities (MREL) eligible senior preferred (SP) bonds to be issued by Erste&Steiermarkische Bank d.d. (EBC or the Bank).      IFCs investment would help to support the Banks housing portfolio including green housing loans. The Project will increase access to housing loans and climate finance in the form of green mortgages. The project is also expected to promote financial sector resilience and a more dynamic domestic corporate bond market through increasing the diversity of instruments, tenors and issuers.
Adris Hotels Maistra Hospitality Group (MHG, or the Company) is one of the leading tourism companies in Croatia. As part of its capital expenditure program for 2024-2027, the Company will invest in (i) the reconstruction of Hotel Marjan, a landmark property next to the UNESCO World Heritage Site in Split, and (ii) the refurbishment, upgrade, and merger of its campsites in Vrsar to establish Vrsar Holiday Village (together, the Project). The most significant, expected Project-level outcomes are (i) stakeholder effects on suppliers based on increased and sustained business opportunities, (ii) employee effects through creating quality jobs and promoting skills development, and (iii) environmental effects through ambitious reduction of GHG emissions, improved resource efficiency of green buildings, and adoption of sustainable tourism practices. Beyond the Project, IFC anticipates the investment to promote sustainability in the tourism sector through demonstration and competition channels.