Home » Business » Croatian islands: Over HRK 5 billion invested in development

Croatian islands: Over HRK 5 billion invested in development

croatian islands


ZAGREB, Oct 13 (Hina) – The state and private sectors invested more than HRK 5 billion in the development of islands in the past two years, mostly grants, according to reports on the implementation of the Islands Act in 2018 and 2019.

Each year more is invested in the development of islands, with a little over HRK 2 billion invested in 2018, one-fifth more than in 2017, while almost HRK 900 million more was invested in 2019 than in 2018.

The largest amount invested in the sustainable development of islands came from the Regional Development and EU Funds Ministry, HRK 112 million in 2018 and HRK 92 million in 2019. The island of Korčula accounted for the largest number of projects (70).

The money was invested in capital projects, public transport (HRK 63.5 million), water supply (HRK 20 million) and the economy.

Counties invested HRK 195 million in their islands.

In 2018 and 2019, HRK 627 million was set aside for the Coastal Liner Shipping Agency for connecting islands with the mainland and each other in order to improve quality of life on islands and increase the competitiveness of their economy. In 2019, the agency operated 51 lines connecting 45 islands.

Jadrolinija, Croatia’s largest liner shipping company for the maritime transport of passengers and vehicles, introduced in its fleet in 2018 a HRK 70 million catamaran which can transport 403 passengers.

The Croatian Roads company invested HRK 1 billion in 2018 and 2019, the most important projects being a bridge connecting the mainland and the Peljesac peninsula and a bridge connecting the mainland and Ciovo island.

Loans by the Croatian Bank for Reconstruction and Development and the HAMAG-BICRO agency for SMEs accounted for HRK 5.575 billion of investments in islands.

(€1 = HRK 7.5)

Sign up to receive the Croatia Week Newsletter

Related Posts