ZAGREB, June 15 (Hina) – The Croatian Bank for Reconstruction and Development (HBOR) has extended its export loan insurance programme and will take on 95% of the risk of non-payments by foreign buyers, which will protect liquidity for small and medium-sized enterprises, HBOR said in a press release on Monday.
With the introduced amendments, HBOR has enabled the amount insured to increase from the current €50,000 to €150,000.
The programme can insure short-term export claims by SMEs with an annual export revenue of up to €2 million. Entrepreneurs just starting a business can also be beneficiaries of these insurance policies.
“With lower insurance costs and equal security of payment, exporters can now send greater volumes or increase the number of deliveries to a single buyer,” HBOR said.
HBOR launched this programme five years ago and has to date insured export turnover of almost €3.4 million, the press release said.