ZAGREB, September 10, 2014 – World Bank Vice President and Treasurer, Madelyn Antoncic, today completed a two-day visit to Croatia. The aim of her trip was to identify areas where the World Bank can assist in supporting Croatia’s growth goals. During her visit, Antoncic met with the Ministry of Finance, the Croatian National Bank and the Croatian Bank for Reconstruction and Development.
While in Croatia, Antoncic also visited the World Bank-supported Second Coastal Cities Pollution Control Project, which is helping to safeguard the quality of Croatia’s coastal waters and its environment, both of strategic importance to the country’s tourism industry, the livelihoods of local communities, and marine life. The project is constructing and upgrading wastewater collection, treatment, and disposal systems along the Adriatic coast, and is helping Croatia meet the European Union (EU) directives in the water sector. Accompanied by Carlos Piñerúa, World Bank Country Manager for Croatia, representatives of the Croatian Waters organization, and Darijo Vasilic, the Mayor of Krk, Antoncic visited project locations on the Island of Krk.
“Croatia is an important partner for the World Bank,” emphasized Antoncic. “We provide regular guidance on lending and financial risk management choices to help Croatia make optimal use of its credit line with the World Bank. The purpose of my visit was to demonstrate our continued commitment to delivering financial solutions and advisory services to help Croatia meet its growth goals.”
The World Bank Group strategy aims to help the authorities in addressing key challenges for economic recovery and maximizing the benefits of EU membership. The World Bank Treasury develops innovative products to meet clients' requests for customized financing and risk management, including loans, contingent financing, guarantees, hedging products, and disaster risk financing to support development programs.
Since joining the World Bank in 1993, Croatia has benefited from financial and technical assistance, policy advice, and analytical services provided by the global development institution. To date, the World Bank has supported 51 operations, amounting to around US$3.5 billion, and has approved 53 grants totaling US$74 million.