Croatia: EIB signs €49 million loan to support green and digital transition and urban development in Split

• The deal comes under a €150 million framework loan approved by the EIB for the City of Split.
• The financing will underpin Split’s multi-sector investment programme.
• It will fund public infrastructure investments to improve services and quality of life, and support green transformation.

The European Investment Bank (EIB) has signed a €49 million loan with the City of Split to co-finance its 2023-2027 multi-sector investment programme to overhaul public infrastructure. The operation will help provide better public services in Croatia’s second largest city and enhance the quality of life of its 180 000 residents.

This is the EIB’s first flagship municipal operation in Croatia, with this transaction granting the first tranche under a €150 million framework loan agreement with the City of Split. It will foster integrated sustainable urban renewal and development by renovating public buildings, improving urban mobility and upgrading open public spaces and green areas.

“Providing better public services to Europeans and making their environment more pleasant and sustainable is a priority for the EIB, the EU climate bank,” said EIB Vice-President Teresa Czerwińska. “We are very happy to support the City of Split in its drive to make Croatia’s second largest city a better place to live and do business. The investments that the city is planning will certainly contribute to the green development of urban infrastructure and improve the quality of social services, such as public schools and kindergartens, thereby making the lives of Split’s residents more comfortable.” 

The agreement will help Split absorb EU grants faster, improve the city’s attractiveness to investors and residents alike, and create thousands of new jobs.

Under the EIB framework loan, the Bank will support eligible investment schemes to refurbish public buildings and open spaces, increase energy efficiency and improve technical equipment for public information and communication. It will also back investments in intelligent transport solutions to enhance access to sustainable public transport and cycling.

The EIB is also ready to provide technical and advisory assistance to help successfully implement the municipal infrastructure framework loan agreement.

Split Mayor Ivica Puljak outlined how the favourable, flexible terms of the framework agreement will accelerate the city’s urban development. He expressed his satisfaction with the arrangement, saying,

“As Mayor of the first city in Croatia to use a framework loan from the EIB, I am extremely pleased and proud today. This kind of loan gives Split strong development momentum for the years ahead. Such loans have long been used by the developed cities of the European Union to build their urban infrastructure. We are the trailblazer in Croatia.”