APRIL 4 2012 23:38h

HNB: Eight billion HRK ensured for financing the economic recovery

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During today's meeting in the Croatian National bank, gathered officials arranged measures that will ensure 8 billion HRK for economic recovery, in other words, this money will finance projects that will contribute to improvement of the balance of payments. It would create more favorable conditions that could offer credits for fixed interest rate.

This way, the central bank will release 4 billion HRK by lowering obligatory reserves that would be a source for credits from this program while bankers from eight largest business banks will ensure 4 billion HRK more as their part of share.

The rate of obligatory reserves should be around 13.5 percent, instead of 15 percent, and bankers were saying that without that program they didn't have lack of capital or liquidity for increased crediting, however there was not enough quality programs.

It is estimated that the Advice of the Croatian national bank could bring necessary decisions out of the authority of the central bank on the forthcoming session next week. It means that application could start during this month, HNB reports.