EBRD allocates EUR 12 mln to increase capacity of Sibenik port

The European Bank for Reconstruction and Development (EBRD) is supporting the development of regional transport infrastructure and tourism network in Croatia with a EUR 12 million loan to finance the expansion of the Port of Sibenik, located on the Croatian coast, 80 kilometres north of Split.

The loan agreement was signed in Zagreb on Monday by EBRD infrastructure sector director Thomas Maier and the head of the Sibenik Port Authority, Marijan Petkovic.

The EBRD loan is guaranteed by the Croatian government, and the guarantee agreement was signed by Croatian Finance Minister Ivan Suker.

Managed by the state-owned Sibenik port Authority, Sibenik port is located in a deep bay, one of the most naturally protected harbours on the Adriatic coast. It is a popular destination offering access to two national parks and ferry access to the neighbouring islands, and is an attractive mid-cruise stop for medium-sized ships operating in the Adriatic area of the Mediterranean.

The EBRD loan, guaranteed by the Croatian government, will finance the rehabilitation of the Sibenik port"s infrastructure by expanding the berthing area. The project will increase the port"s capacity, addressing the congestion that occurs during the summer months as a result of increased traffic, and also allowing for the entry of larger-sized cruise ships into the port area.

Following the expansion of the quay, Sibenik port will pursue the construction of passenger terminal facilities.

Since the beginning of its operations in Croatia, the EBRD has committed EUR 2.2 billion in various sectors of the country"s economy, including close to €400 million for the modernisation of transport infrastructure, and mobilising additional investments worth EUR 3 billion from other sources.


(Hina)