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

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.

“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.

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.