Croatia’s Ministry of Economy and Sustainable Development has expanded its cooperation with the European Investment Bank (EIB) on the development and financing of key energy, sustainability and climate-related projects.
The two parties will develop joint operations in renewable energy generation, transmission and distribution infrastructure, clean energy and buildings’ energy efficiency and in Croatia’s transition to a circular economy.
The EIB will expand its financial assistance to Croatia by backing sustainability projects and policies such as the National Energy and Climate Plan and the Recovery and Resilience Plan.
Projects in the National Energy and Climate Plan are expected to help Croatia recover from the effects of COVID-19 and two devastating earthquakes that hit the country in 2020.
The EIB and the ministry will jointly ensure:
- Improved protection and conservation of the environment
- The development of sustainable water management practices
- The development of systems to monitor weather and climate conditions
- The strengthening of Croatia’s energy and hydrocarbon management systems.
EIB and the ministry will also cooperate to maximise opportunities stemming from EU programmes such as InvestEU, the Green Deal Investment Plan, and the Just Transition Fund.
Minister of Economy and Sustainable Development, Tomislav Ćorić, PhD, said: “Croatia supports the decarbonisation of Europe and we see it as an opportunity for the development of the Croatian economy. Our goal of running on renewable energy by 2030 is ambitious but achievable. We also have a lot of new green projects that will decarbonise our economy and we see the EIB as a strong partner in implementing these projects.”
Ognian Zlatev, head of the European Commission’s representation in Croatia, adds: “This will help Croatia to make the most of the Commission’s European Green Deal Investment Plan and successfully implement its ambitious energy and climate projects, in line with the EU target to be climate-neutral by 2050.”
To date, the EIB has supported the economic and social development of Croatia by investing €6.71 billion ($8.1 billion) in operations covering the most important sectors of Croatia’s economy, including transport, the environment, energy infrastructure, manufacturing and services.